In 1487, the Perusian painter Bartolomeo Caporali painted an altarpiece for the Cacciatori (Hunters) of Castiglione del Lago that was intended for the ancient parish church of Santa Maria Maddalena. During the 18th century, the panel was divided into nine fragments, which were sketched in 1864 – shortly before their dispersal – by G.B. Cavalcaselle on two sheets now preserved in the Biblioteca Marciana, Venice. This article retraces the conservation history of the altarpiece and publishes, for the first time, a fragment belonging to it with 'Saint Roch', which may be thought to have been purchased in the 1860s by Kurd von Schlözer, then secretary to the Prussian legation in Rome. The study of this altarpiece forms part of a broader re-examination of Caporali's career. Looking back, it briefly surveys the artist's earlier phase, marked by his collaboration with Benedetto Bonfigli, from which several predella fragments – here reassigned to the elusive 'Maestro della Pietà di San Costanzo' – are excluded.