Varð ei varr fyrr sverða
valdr, en steyft var Baldri
baugs af byrjar faxa
braut á sildar lautir.
Þar var í lund af landi
lastvarr kominn harri;
‘seggr, gjalt,’ sonr kvað Tryggva,
‘svinnr, forvitni þinnar.’
Valdr sverða varð ei varr fyrr en Baldri baugs var steyft braut af faxa byrjar á lautir sildar. Þar var harri, lastvarr í lund, kominn af landi; ‘gjalt, svinnr seggr,’ kvað sonr Tryggva, ‘forvitni þinnar.’
The ruler of swords [WARRIOR = Þorkell] did not become aware until the Baldr <god> of the ring [MAN = Þorkell] was toppled down off the steed of the breeze [SHIP] into the hollows of the herring [SEA]. There was the lord, faultless in temperament, come from the land; ‘pay, clever fellow,’ said Tryggvi’s son [= Óláfr], ‘for your curiosity.’