This paper reports the dynamic behaviour of a magnetically actuated floating liquid marble by analysing the oscillation of the marble. A liquid marble is a liquid droplet coated with hydrophobic powder. Magnetite particles inside the marble make it magnetic. The marble floats on a carrier liquid that contains aqueous glycerol of various concentrations. A permanent magnet located under the carrier liquid drives the floating marble with the initial velocity. Stopping the magnet abruptly causes the marble to oscillate around its final position for a few seconds. The oscillation was recorded and analysed using customised image processing and evaluation software. The damped harmonic motion model was then applied to the data and tested. Subsequently, critical parameters of the system such as the initial displacement, friction correction factor, the apparent frequency and the spring constant were determined and discussed. The simple experimental set-up and convenient theoretical approach allow us to characterise the marble motion under the influence of a magnet with good accuracy.