This article presents an exploratory investigation of pictorial and multimodal metaphors appearing in print product advertisements; the aim is to ascertain their relevance for the arguments that the ads put forth. Departing from the working hypotheses that advertising is an argumentative activity type employing pictorial and multimodal metaphors, and that these are often examples of visual argumentation, this study analyzes a small corpus of print product ads by employing the theoretical frameworks offered by Blending Theory and the Argumentum Model of Topics. This allows to reconstruct the enthymematic structure of advertising arguments highlighting the correspondence between rhetorical tropes and argumentative loci.