17
JOHN FITCH ALS West Point Continental Army Battle, Inventor Steam-Powered Boat
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Category:Collectibles / Autographs
Start Price:2,800.00 USD
Estimated At:5,000.00 - 6,000.00 USD
SOLD
3,500.00USD+ buyer's premium + applicable fees & taxes.
This item SOLD at 2020 Jun 27 @ 09:32UTC-7 : PDT/MST
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Autographs
Remarkable “John Fitch” Autograph Letter Signed Writes About the Coming Battle at West Point Continental Army Soldier and the First U.S. Steam-Powered Boat Inventor
JOHN FITCH (1743-1798). Inventor who in 1787 Built the First Recorded Steam-Powered Boat in the United States, Continental Army officer since his Trenton, NJ. business was destroyed by the British, Winter of 1777 he provided Washington’s Troops at Valley Forge and Philadelphia food at his own expense, Captured by Indians in 1782 and handed over to the British spending the remainder of the Revolutionary War in Canada until released.
June 27, 1779-Dated Revolutionary War Period, Autograph Letter Signed, “John Fitch” as a Continental Soldier, 2 pages, with Integral Address Leaf, Camp Smiths Clove, 8" x 13.25", Camp Smiths Clove, Fine. Continental Army soldier John Fitch pens this Letter to his sister, Alice, including his current insight of British troop movements and a major threat to America, in part: “The enemy have advanced from Kings Ferry towards the Fort at West Point. It is expected that they intend to attack the Fort soon. If they do, I am very certain they will be defeated. - Our Army is in high spirits & very healthy. Nature & Ord(inance) has fortified the Posts at West Point in such a manner that I think it out of the power of the British Nation to take it from us. If they attack the Works at West Point with a determination of taking the Fort or loosing (sic) their Army, it is my opinion that will put an end to the War, which Heavens grant may be the case...”.
Historic note: In June 1779, Washington worried that British General Sir Henry Clinton would attack West Point and would “interrupt our easiest communication between the Eastern and Southern states, open a new source of supplies to them and a new door to distress and disaffect the country.” Twice during the War, Washington’s fear of losing West Point almost came to fruition. The first time, on June 1, 1779, the British captured two small forts, Stony Point and Verplanck’s Point, twelve miles south of West Point. Washington quickly moved his troops farther up the Hudson to block the British advance. American General Anthony Wayne then led a surprise night attack at Stony Point and succeeded in recapturing the fort. The episode prompted Washington to remind General Alexander McDougall of the “first in magnitude and importance” of West Point “and in all probability the real of the enemy’s designs.” This historic content Letter reads, in full:
“Camp Smiths Clove - June 27th, 1779 -- My dear Sister -- Yesterday I received a Letter from you dated December 21, 1778 - although it was of such an old date, I received infinite pleasure in receiving & reading it. - I hear Doct(o)r Marsh has gone a Privateering. I wish him great success & a safe & speedy return to his small family. - I most sincerely lament the Loss of your Mother March, who I looked upon to be one of the best Motherly woman that I know. - I wrote you from Danbury by Mr. Wales by whom I sent eight yards of y(ar)d w(i)d(e) Irish Linen, a few Skeans of Linen Cambrick (ic) Thread, one and a half or two yards of superfine Cambrick (sic) and four or eight yards of a coarse kind of Camrick (sic), which I wish safe to hand. - I wish you to make me two shirts of the piece of Linen I left with you & ruffle them. I send them on by Mr. Flint. I desire that you'll not cut out nor make any more 'till you hear further from me. I shall write you immediately after I have tried those that you will send by Mr. Flint & inform you if they suit me or not - in order that you may make with alterations in the others as will be necessary. ---
I have nothing new to inform you of. - The enemy have advanced from Kings Ferry towards the Fort at West Point. It is expected that they intend to attack the Fort soon. If they do, I am very certain they will be defeated. - Our Army is in high spirits & very healthy. Nature & Art has fortified the Posts at West Point in such a manner that I think it out of the power of the British Nation to take it from us. If they attack the Works at West Point with a determination of taking the Fort or loosing (sic) their Army, it is my opinion that will put an end to the War, which Heavens grant may be the case. ---
I beg that you'll write me after & let me know when you hear from the Doctor, as I shall be anxious for to hear of his welfare & success. Please to have an eye over my things at Windham. -- Give my best Compliments to my little niece, Lucy, & the Doct(o)r if you have an opportunity - & all friends. --- Am Dear Sister with my best wishes for your happiness and welfare. - Your sincere Friend & well wisher --- (Signed) John Fitch”
The attached full page additional transmittal address leaf has scattered heavy staining, with some transfer that affects to a lesser extent, scattered about the text written page. Fold separations on the transmittal envelope page are repaired with modern archival fiber tape. Overall, Fitch’s hand penned text is bold and clear, being fully legible. Paper loss on the address leaf is from the wax seal being opened upon receipt. The signature, “John Fitch” at the conclusion of this Letter is bold and sharp, measuring 2” long with his wonderful larger flourish below.
According to some sources, Inventor John Fitch was subsequently haunted by dreams of being pursued by Indians in canoes which inspired him to create a faster ship. His nightmares from experience during capture gave birth to his conception of the first United States Steam-powered boat.
West Point played a crucial role in keeping the new United States from falling to the British during the American Revolution, in the years before the area became known for its famed military academy in 1803. West Point is located on a plateau on the west bank of the Hudson River approximately sixty miles north of New York City. In 1781, George Washington called the fortified site “the most important Post in America,” and he worked to keep Patriot control of West Point throughout the Revolutionary War
In 1777 during the Revolutionary War, the defense of the Hudson River still worried General George Washington, and a new fortification was planned above the previous forts; at the narrow “S” curve of the river: West Point. The bend in the river was notoriously difficult to navigate, forcing ships to tack, and featured strong currents and often-unfavorable winds. Washington put his best engineer on the task, a young Polish Colonel named Tadeusz Kosciuszko.
Fortress West Point was a series of fortifications arraigned on the west bank of the Hudson and Constitution Island. Spanning the river between the two locations was The Great Chain, each link measured two feet in length and weighed 114 pounds, the total length spanned 600 yards of river and weighed 65 tons. Helping to keep the chain afloat was a log boom that, combined with the narrow and winding river the chain blocked any vessels from passing the forts.
On the heights of the west bank stood Fort Arnold, the largest at Fortress West Point. The fort provided the firepower that could sink any vessel that tried to pass the chain. Fort Arnold had stone walls with earthen parapets, it held a garrison of 700 troops, and mounted one 24-pounder, six 18-pounders, one 12-pounder, one 4-pounder, three 3-pounders, and eleven mortars.
Within the fort were two barracks, a powder magazine, and bombproofs. Protecting the landward side of Fort Arnold was Fort Putnam, a stone fortification that included three interior casemates, two bomb proofs, and a provision magazine. The garrison could include up to 420 men, housed in tents outside the fort, and the armament included five 18-pounders, two 12-pounders, two 6-pounders, one 4-pounder, and four 5.5-inch mortars. The combined fortifications of Arnold and Putnam were designed to withstand a ten-day siege.
Across the river on Constitution Island was Fort Constitution, originally begun in 1776 it was only partially completed, with efforts and materiel being diverted to Forts Montgomery and Clinton. When Montgomery and Clinton fell in October 1777 Fort Constitution was also captured and destroyed by the British. In 1778, the fort was partially rebuilt to protect the eastern end of The Great Chain. Supporting these major fortifications were a series of additional batteries and redoubts; all designed to provide covering fire for the forts or the river.
Kosciuszko finished constricting Fortress West Point in 1780, its commander, Benedict Arnold, took command on August 3, 1780. While Fortress West Point never fired a shot in anger, it was witness to the greatest treachery in American history. Arnold had been unhappy with the patriot cause after his leadership at Saratoga was overlooked, and began questioning his role in it.
Prior to his command of West Point, Arnold had already been providing information to the British. Once in place at West Point, he actively tried to weaken the fortress, and hoped to surrender it to the British. Fortunately, Arnold’s treason was discovered when Maj. John André was captured, causing Arnold to flee to a British warship.
JOHN FITCH (January 21, 1743 – July 2, 1798) was an American inventor, clockmaker, and silversmith who, in August 1787, built the first recorded steam-powered boat in the United States and lauched it on the Delaware River. Two decades later, Robert Fulton was the first person able to make Steamboats profitable.
Fitch served briefly during the Revolution, mostly as a Gunsmith working for the New Jersey militia; he left his unit after a dispute over a promotion but continued his work repairing and refitting arms in Trenton. In the fall of 1777, Fitch provided beer and tobacco to the Continental Army in Philadelphia. During the following winter and spring, he provided beer, rum, and other supplies to troops at Valley Forge.
JOHN FITCH Early Life:
Fitch was born in Windsor, Connecticut on January 21,1743 , on a farm that is part of present-day South Windsor, Connecticut. He received little formal schooling and eventually apprenticed himself to a clockmaker, during which time Fitch was not allowed to learn or even observe watchmaking (he later taught himself how to repair clocks and watches). Following this apprenticeship in Hartford, he opened an unsuccessful brass foundry in East Windsor, Connecticut and then a brass and silversmith business in Trenton, New Jersey which succeeded for eight years but was destroyed by British troops during the American Revolution.
In 1780, he began work as a surveyor in Kentucky where he recorded a land claim of 1,600 acres (6.5 km2) for himself. In the spring of 1782, surveying in the Northwest Territory he was captured by Indians and turned over to the British who eventually released him.
JOHN FITCH Steam-powered boat:
By 1785, Fitch was done with surveying and settled in Bucks County, Pennsylvania where he began working on his ideas for a steam-powered boat. Unable to raise funds from the Continental Congress, he persuaded various state legislatures to award him a 14-year monopoly for steamboat traffic on their inland waterways. With these monopolies he was able to secure funding from businessmen and professional citizens in Philadelphia.
Fitch had seen a drawing of an early British Newcomen steam engine in an encyclopedia, but Newcomen engines were huge structures designed to pump water out of mines. He had somehow heard about the smaller and more efficient steam engine developed by James Watt in Scotland in the late 1770s, but there was not a single Watt engine in America at that time, nor would there be for many years (Fulton's exported model in his 1807 steamboat, Clermont, would be one of the first) because Britain would not allow the export of new technology to its former colony. Therefore, Fitch attempted to design his own version of a steam engine. He moved to Philadelphia and engaged the clockmaker and inventor Henry Voigt, to help him build a working model and place it on a boat.
The first successful trial run of his steamboat "Perseverance" was made on the Delaware River on August 22, 1787, in the presence of delegates from the Constitutional Convention. It was propelled by a bank of oars on either side of the boat. During the next few years, Fitch and Voigt worked to develop better designs, and in June 1790 launched a 60-foot (18 m) boat powered by a steam engine driving several stern mounted oars. These oars paddled in a manner similar to the motion of a swimming duck's feet. With this boat he carried up to thirty paying passengers on numerous round-trip voyages between Philadelphia and Burlington, New Jersey during the summer of 1790. Estimates of miles traveled that summer range from 1,300 to 3,000 miles, and Fitch claimed that the boat often went for 500 miles without mechanical problems.
Fitch was granted a patent on August 26, 1791, after a battle with James Rumsey, who had also invented a steam-powered boat. Unfortunately, the newly-created Patent Commission did not award the broad monopoly patent that Fitch had asked for, but a patent of the modern kind, for the new design of Fitch's steamboat. It also awarded steam-engine-related patents dated that same day to Rumsey, Nathan Read, and John Stevens. The loss of a monopoly due to these same-day patent awards led many of Fitch's investors to leave his company. While his boats were mechanically successful, Fitch no longer had the financial resources to carry on.
Fitch's idea would be turned profitable by Robert Fulton two decades later. Though Fulton was able to obtain a monopoly in the state of New York, because of the powerful influence of his partner Robert Livingston, he was unable to gain a US patent largely because the originality of Fulton's designs could not be demonstrated; it didn't help that because an original member of Fitch's company, William Thornton, had become head of the newly created Patent Office and made the application process even more difficult for Fulton.
Fitch had also received a patent in 1791 from France, and in 1793, having given up hope of building a steamboat in the United States, left for France, where an American investor, Aaron Vail, had promised to help him build a boat there. As his luck would have it, Fitch arrived just as the Reign of Terror was beginning, and his plans had to be abandoned. He made his way to London to make an attempt there, but that also failed. He returned to the United States in 1794 and made a few more tries to build a steamboat.
Failing once again, Fitch moved to Bardstown, Kentucky, in 1797, where he hoped to sell some of the lands he had acquired there in the early 1780s and use the proceeds to build a steamboat for use on the Ohio or Mississippi River. He arrived to find settlers occupying his properties, with the result that legal disputes occupied him until his death in 1798.
JOHN FITCH Steam locomotive:
While living in Kentucky, Fitch continued to work on steam engine ideas. He built two models, one of which was lost in a fire in Bardstown. The other was found in the attic of his daughter's house in Ohio in 1849. The model still exists at the Ohio Historical Society Museum in Columbus. In the 1950s, experts from the Smithsonian Museum examined it and concluded that it was "the prototype of a practical land-operating steam engine," meant to operate on tracks – in other words, a Steam locomotive.
In 1802, the Englishman Richard Trevithick invented a full-size steam locomotive that, in 1804, hauled the world's first locomotive-hauled railway train, and within a short time the British invention led to the development of actual railways. Americans began importing English locomotives and copying them.
JOHN FITCH Legacy:
His legal dispute over state monopoly rights with fellow steamboat inventor James Rumsey and others helped bring about the enactment of the first Patent Act of 1790. He is mentioned in the personal letters of several historical figures including George Washington, Benjamin Franklin, Thomas Jefferson, and James Madison.
JOHN FITCH Memorials:
An 1876 fresco in the U.S. Capitol painted by Constantino Brumidi depicts John Fitch working on one of his Steamboat models.
The John Fitch Steamboat Museum is currently being built (as of winter 2010) in Warminster, Pennsylvania. A memorial to Fitch stands in Bardstown, Kentucky's Courthouse Square, complete with a replica of his first steamboat. A small Fitch Monument stands in Warminster Township, Pennsylvania at the corner of York and Street roads, near spot where he first conceived of a steam-driven vehicle.
John Fitch High School was built on Bloomfield Avenue in Windsor, Connecticut in the 1934. It became an elementary school in the 1950s. The building was converted to elderly housing in the 1990s, but its facade still bears Fitch's name and likeness carved in stone. It is listed on the National Register of Historic Places.
There is a John Fitch Elementary School in Levittown, Pennsylvania. The state of Connecticut has designated U.S. Route 5 through South Windsor and East Windsor as the "John Fitch Boulevard". The four-lane highway runs parallel to, and often within sight of, the Connecticut River.
The state of New Jersey designated a section of Rt. 29 in Trenton, along the Delaware River, the John Fitch Parkway. Fitch's journal and memoirs were published many years later as The Autobiography of John Fitch. Though told with the biases of a bitter and disappointed man, they are a vivid and moving picture of his times and unhappy life.
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Infinite |
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8. Disclaimer and Warranties.
All Bidders in the Auction acknowledge and agree, as a condition to the acceptance of a Bid by the Auctioneer, that:
NO WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE IS MADE OR IMPLIED ON ANY LOT IN THE CATALOG, AND NO WARRANTY, WHETHER EXPRESS OR IMPLIED, IS MADE WITH RESPECT TO ANY LOT EXCEPT FOR A WARRANTY OF TITLE; IT BEING UNDERSTOOD THAT ALL LOTS OFFERED FOR SALE ARE SOLD ON AN "AS IS" BASIS AND THAT THE PURCHASER CONSEQUENTLY ASSUMES ALL RISKS CONCERNING AND RELATED TO THE GRADING, QUALITY, DESCRIPTION, CONDITION, AUTHENTICITY, AND PROVENANCE OF A GIVEN LOT. NEITHER EAHA NOR THE CONSIGNOR MAKES ANY REPRESENTATION THAT THE PURCHASER OF MANUSCRIPT MATERIAL, PHOTOGRAPHS, PRINTS, OR WORKS OF ART WILL ACQUIRE ANY COPYRIGHT OR REPRODUCTION RIGHTS THERETO."
9. Waiver and Release.
All Bidders in the Auction acknowledge and agree, as a condition to the acceptance of a Bid by the Auctioneer, that:
BIDDER EXPRESSLY WAIVES AND RELEASES, AND FOREVER DISCHARGES EAHA FROM ANY AND ALL CLAIMS, RIGHTS, DEMANDS AND CAUSE(S) OF ACTIONS AND SUIT(S), OF WHATEVER KIND OR NATURE, INCLUDING, BUT NOT LIMITED TO, CLAIM(S) BASED UPON AUCTIONEER'S NEGLIGENCE, WHETHER IN LAW OR EQUITY OR WHETHER KNOWN OR UNKNOWN, SUSPECTED OR UNSUSPECTED, WHICH BIDDER MAY CLAIM TO HAVE WITH RESPECT TO AND/OR ARISING OUT OF, OR IN CONNECTION WITH ANY CHALLENGE TO ANY MERCHANDISE PURCHASED AT THE AUCTION, THE AUCTION PROCEDURES, OR THE PURCHASE OF ANY LOT(S); IT BEING THE INTENTION THAT THIS WAIVER AND RELEASE SHALL BE EFFECTIVE AS A BAR TO EACH AND EVERY CLAIM, DEMAND, CAUSE OF ACTION AND/OR SUIT OR CONTROVERSY THAT MAY ARISE HEREUNDER OR BE RELATED TO THE AUCTION
ALL BIDDER(S) BY SUBMITTING A BID IN ANY FASHION, SIGNED OR UNSIGNED, IN THE AUCTION KNOWINGLY AND VOLUNTARILY WAIVE ANY AND ALL RIGHTS AND BENEFITS OTHERWISE CONFERRED UPON THE BIDDER BY LAW OR BY THE PROVISION(S) OF SECTION 1542 OF THE CALIFORNIA CIVIL CODE, WHICH READS IN FULL AS FOLLOWS:
"A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR."
10. Disputes and Arbitration.
All Bidders in the Auction acknowledge and agree, as a condition to the acceptance of a Bid by the Auctioneer, that:
a. If a dispute arises concerning ownership of a given Lot that has been Bid upon or concerning proceeds of any sale, EAHA reserves the right to commence a statutory Inter-Pleader or similar proceeding at the expense of the Consignor and successful Bidder and any other applicable party, and in such event shall be entitled to its reasonable attorneys' fees and costs.
b. Neither EAHA nor any affiliated or related company shall be responsible for incidental or consequential damages arising out of any failure of these General Terms and Conditions, the Auction or the conduct thereof and in no event shall such liability exceed the original Purchase Price, premium, or fees paid.
c. If the Bidder fails to comply with one or more of these General Terms and Conditions, then, in addition to all other remedies which it may have at law or in equity, EAHA may at its sole option either rescind the sale, retaining all payments made by Bidder as liquidated damages; it being recognized that actual damages may be speculative or difficult to compute, or sell a portion or all of the Lot(s) held by EAHA, in a quantity sufficient in the opinion of EAHA to satisfy the indebtedness, plus all accrued charges, and EAHA may sell such portion at an Auction or private sale conducted by EAHA and charge a seller's commission that is commercially reasonable. More than one such sale may take place at the option of EAHA. Notice of the sale shall be by U.S.P.S. Mail, Return Receipt Requested to the address utilized on the Bid Sheet, Auction Consignment and Security Agreement or other last known address by EAHA. The proceeds shall be applied first to the satisfaction of any damages occasioned by Bidder's breach, then to any other indebtedness owed to EAHA, including without limitation, commissions, handling charges, the expenses of both sales, reasonable attorneys' fees, costs, collection agency fees and costs and any other costs or expenses incurred.
d. It/he/she shall be liable to EAHA if the proceeds of such sale(s) insufficient to cover the indebtedness.
e. The rights granted to the Bidder(s) under the within General Terms and Conditions are personal and apply only to the Bidder(s) who initially purchase the Lot(s) at the Auction, and no rights may be assigned or transferred to any other person or entity, and any attempt to assign or transfer any such rights shall be absolutely void and unenforceable.
f. ANY DISPUTE ARISING OUT OF OR RELATED TO THESE GENERAL TERMS AND CONDITIONS, THE AUCTION OR ANY LOT, WITH THE SOLE EXCEPTION OF ACTIONS BY EAHA TO COLLECT THE PURCHASE PRICE AND OTHER DAMAGES, SHALL BE SUBMITTED TO BINDING ARBITRATION WITH THE VENUE OF ALL HEARINGS TO BE IN SAN DIEGO AND PURSUANT TO THE RULES OF THE AMERICAN ARBITRATION ASSOCIATION AND/OR THE PROFESSIONAL NUMISMATICS GUILD ("PNG") AT"EAHA'S EXCLUSIVE OPTION.
11. Miscellaneous Terms.
All Bidders in the Auction acknowledge and agree, as a condition to the acceptance of a Bid by the Auctioneer, that:
a. These General Terms and Conditions and the Auction shall be construed and enforced in accordance with and governed by the laws of the State of California, regardless of the location of the Auction.
b. These General Terms and Conditions, and the information on EAHA's website, constitute the entire Agreement between EAHA and the Bidder(s) and supersede all other agreements, understandings, warranties and representations of and concerning the Auction and subject matter hereof.
c. EAHA will not be responsible for damage due to irradiation by the U.S. Post Office.
d. If any part of these General Terms and Conditions, or any term or provision of any part is held to be invalid, void, or unenforceable by any court of competent jurisdiction, the remaining portion(s) shall remain and be in full force and effect.
12. Definitions
a. The term "Absentee Bid" shall mean all Bids placed via any communication including: mail, phone, fax, email and website.
b. The term "Auction" shall mean an auction or consignment sale authorized and conducted under the auspices of "EAHA" and under these General Terms and Conditions.
c. The term "Auction Date" shall mean the date the Auction is conducted or consignment item is sold.
d. The term "Auctioneer" shall mean an individual(s) duly licensed and/or employee designated by "EAHA" to conduct the Auction or any Sale.
e. The term "Bid" shall mean a bona fide Bid made by a "Bidder" which is officially acknowledged and accepted by the Auctioneer at the Auction on the Auction Date.
f. The term "Bidder" shall mean an individual or entity that submits a legally binding and bona fide Bid to the Auctioneer at the Auction or any direct buyer either physical or online.
g. The term "Catalog" shall mean the official publication issued by EAHA and transmitted to potential Bidder(s) in advance of the Auction.
h. The term "Cataloguer" shall mean the individual(s) that has described the "Lot(s)" contained in the Catalog for the Auction.
i. "Conservation" the Professional activities including the careful examination as supported by expertise, research and education, in treatment of an item using, "any methods that prove effective in keeping or bringing that property in as close to its original condition as possible, for as long as possible."
j. The term "Consignment Agreement" shall mean the written agreement(s) between "EAHA" and a given "Consignor" available at "EAHA's" offices.
k. The term "Consignor" shall mean the owner of the "Merchandise" offered for sale by "Lot" at the Auction.
l. The term "Description" shall mean the written remarks describing the features of a Lot combined with the corresponding photograph of said Lot.
m. The term "EarlyAmerican;s website." shall mean the Internet accessible service provided by EAHA.
n. The term "EAHA" shall mean collectively Early American History Auctions, Inc. and/or any subsidiary or affiliated entity and/or Officer(s), Director(s) and/or employee(s) of EAHA.
o. The term "Fair Market Value" shall mean the sale price a given Lot is expected by the Cataloguer to realize at the Auction from the Bidder(s).
p. The term "Hammer Price" shall mean the successful Bid in the Auction as determined by the Auctioneer on the Auction Date.
q. The term "Holder" shall mean the original frame, container, case or clear plastic sleeve, labeled with the "Lot" number, in which the "Merchandise" is delivered by the Consignor to the successful Bidder at an Auction.
r. The term "Lot(s)" shall mean the article(s) comprising the Merchandise offered for sale at the Auction.
s. The term "Low Estimate" shall mean the low range of the sale price that a Lot is expected by the Cataloguer to realize at the Auction.
t. The term "Merchandise" shall mean personal property described in the Catalog and offered for sale by Lot at the Auction.
u. The term "Purchaser" shall mean the successful Bidder at the Auction on the Auction Date.
v. The term "Purchaser's Premium" shall mean the commission that is automatically charged by "EAHA" to each successful Bidder at the Auction in a sum equal to twenty percent (20%) of the "Hammer Price" or twenty-five percent (25%) of the "Hammer Price" if bids are placed through a third party firm including Invaluable, LiveAuctioneers and iCollector.
w. The term "Reserve" is a confidential price below which the Auctioneer will not sell a given Lot, and/or will re-purchase on behalf of the Consignor or EAHA.
x. The term "Settlement Date" shall mean a time forty-five (45) days after the Auction Date.