And the women's event saw 16-year-old Jennifer Capriati defeat Graf in three sets to give the USA gold.
BBC: SPORT | Olympics 2004 | Tennis | History | Tennis serves up shocks
Former Wimbledon champion Martinez is enjoying a good week, having beaten top seed Jennifer Capriati in the previous round.
It is only the third tournament this year for Capriati as she continues her recovery from eye surgery in December.
In the women's singles, seventh seed Jennifer Capriati continued her solid form, beating France's Nathalie Dechy, seeded 25, 7-5 6-1.
If her fragile confidence has taken a battering in Shanghai, names like Venus, Capriati, Hingis and Mauresmo could do further damage.
Triple Grand Slam winner Jennifer Capriati has announced she will take part in the Hastings Direct International Championships at Eastbourne in June.
The women's draw has been hit this week by the withdrawals of top American players Serena Williams and Jennifer Capriati due to injuries.
Capriati, the world's sixth-ranked player, made 33 unforced errors and needed 1 hour and 49 minutes to beat Mikaelian, the world's 37th ranked player.
Sharapova was the last in a long line of women's tennis prodigies, going back to Jennifer Capriati, Steffi Graf, Tracy Austin and Chris Evert.
Dokic, who had beaten second seed Jennifer Capriati on the way to the final, kept pace with the world number two for four games.
"I was a little hesitant out there on the clay in the beginning because it was just my first match, " said Capriati, the tournament's third seed.
Capriati outplayed her 72nd ranked opponent in every department, reeling off five straight games from 1-1 in the second set to end Marrero's misery with an overhead smash.
Capriati burst on the tennis scene as a teenager, breaking into the sport's ranking of top 10 players by 14 and advancing to the semifinals of the French Open in 1990.
Britain's Lorna Woodroffe fought off an injury scare and went on to set up a second-round meeting with US start Jennifer Capriati in the DFS Women's Tennis Classic at Edgbaston in Birmingham.
Similar items from Venus and Serena Williams and Jennifer Capriati, a pair of Monica Seles' sneakers and a 1999 Wimbledon order of play sheet signed by finalists Steffi Graf and Davenport were also being auctioned.
Her 1999 Australian Open victory was to prove her last grand slam title although her incredible record at the tournament continued as she made the next three finals in Melbourne, losing to Lindsay Davenport and twice in succession to Jennifer Capriati.
"The current facts being circulated by Mr. Brannan are an overexaggeration and the police report is one-sided in (his) favor, since they failed to get Ms. Capriati's side of the story, " said the statement, which was attributed to the ex-tennis player's legal representative.
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