Hefir Auðun dýr sitt með sér,
has - Auðun - animal - his - with - him
Audun had his bear with him,
 
ok ætlar nú at fara suðr til Danmerkr á fund Sveins konungs,
and - intends - now - to - travel - south - to - Danmark - to - meet - Sveinn - king
and he planned to travel south to Denmark to meet King Svein
 
ok gefa honum dýrit. 
and - give - to him - the animal
and give him the animal.
 
Ok er hann kom suðr í landit, þar sem konungr var fyrir,
and - when - he - comes - south - in - the country - there - where - king - was - present
So when he arrived in the south of the country where the king was staying,
 
þá gengr hann upp af skipi,
then - goes - he - up - out of - ship
he disembarked from the ship,
 
ok leiðir eptir sér dýrit, ok leigir sér herbergi.
and - leading - behind - himself - the animal - and - renting - himself - lodgings
leading the bear behind him, and rented a room.
 
Haraldi konungi var sagt brátt
to Haraldr - king - was - told - soon
King Harald was soon told
 
at þar var komit bjarndýri, gørsimi mikil, ok á Íslenzkr maðr. 
that - there - was - come - a bear - a treasure - great - and - owned - Icelandic - man
that a bear, a great treasure owned by an Icelandic man, had arrived there.
 
Konungr sendir þegar menn eptir honum;
king - sends - at once - men - after - him
The king immediately sent men after him;
 
ok er Auðun kom fyrir konung, kveðr hann konung vel. 
and - when - Auðun - comes - before - king - greets - he - king - well
and when Audun arrived in front of the king, he greeted him properly.
 
Konungr tók vel kveðju hans ok spurði síðan:
king - took - well - greeting - his - and - inquires - then
The king accepted his obeisance and then asked:
 
"Áttu gørsimi mikla í bjarndýri?" 
have you - a treasure - great - in - a bear
"Do you have a great treasure of a bear?"
 
Hann svarar ok kvezk eiga dýrit eitthvert. 
he - answers - and - says himself - to own - the animal - a certain
He answered and said he did have that bear.