According to the Wikipedia entry [1] and other pages mentioned in another comment [2], the statue was found with a fragment of a left hand holding an apple, and a right hand with a draped sash. This was taken to understand that the statue represented the Judgement of Paris [3].

So apparently it is known what the hands held, which seems to make this speculation unnecessary.

[1] https://en.wikipedia.org/wiki/Venus_de_Milo [2] https://news.ycombinator.com/item?id=9474238 [3] http://en.wikipedia.org/wiki/Judgement_of_Paris