In 1514 Albrecht D\"urer made his now worldly famous engraving `Melencolia I'. It enjoyed a general admiration through times, but recently some `experts' pretended an ellipse on this drawing was constructed erroneously. They based their argumentation on a drawingD\"urermade in his book `Underweysung der Messung' and on the fact D\"urer used the word `egg line' instead of `ellipse'. The present contribution however invalidates these arguments.