SOLD
50.00USDto floor+ buyer's premium
This item SOLD at 2006 Dec 15 @ 14:37UTC-05:00 : EST/CDT
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<B>William S. Pierson </B>(NY) 1846. Share certificate. Unissued. Black on blue paper. An extremely unusual piece of history. <B>EF</B>. <BR> This was a classical scam, in an era marked by some ingenious examples of that art form. Abraham G. Thompson claimed to have a map marking the location where Captain Kidd had sunk a vessel containing his loot. Since Kidd did his looting in the Indian Ocean, and such money as he got (he was a notoriously incompetent pirate) was spent there, this was pure fiction that could only fool the ignorant. To give credit to this otherwise bald and unconvincing narrative, the site in the Hudson River near Dunderberg mountain was salted with some treasure pieces which the promoter claimed to have fished up. The scheme gave total discretion to the promoters as to how the funds were to be spent, thus giving the shareholders no recourse to recover their subscription. The chief purpose of this scheme was to pocket the down payment of $25 per share.
Auction Location:
2 Rector Street, 12th Floor, New York, New York, 10006-1844, United States
Previewing Details:
Lots are available for viewing in Smythe’s offices at 2 Rector Street, 12th Floor, on the following days during the hours listed:
December 6-8, 10 am – 4 pm EST
December 11, 9 am - 4 pm EST
December 12, 9 am – 6 pm EST
December 13, 9 am – 1 pm EST
Taxes:
| Tax | Rate | Desc. |
| NYST |
8.38% |
NYC Tax |
Buyer's Premiums:
| From (Incl.) | To (Excl.) | Premium |
| 0.00 |
Infinite |
20% |
Additional Fees:
Shipping Details:
No Info Available
Payment Details:
No Info Available
Accepted Payment Methods:
- Money Order/Bank Draft
- Check/Cheque
- COD (cash on delivery)
- PayPal
Terms of Sale
1) A 20% buyers charge will be added to the hammer price of each lot purchased.
2)All bids are per lot as numbered in this catalogue.
3)Bids less than 60% of the estimate will not be accepted.
4)SMYTHE reserves the right to withdraw any lot prior to sale.
5)All successful bidders shall be billed for postage, handling and insurance.
6)SMYTHE cannot be responsible for the loss of any merchandise shipped outside the United States.
7)All framed items are shipped at the purchaser’s risk.
8)SMYTHE reserves the right to reject any bids not made in good faith and further reserves the right to ban any bidder from participation in its sales for any reason deemed appropriate at SMYTHE’S sole discretion.
9)A SMYTHE auction bidder expressly waives any claim or right to any accounting, damages or compensation arising out of SMYTHE’S failure to receive or execute any bid due to exclusion from our sales, clerical errors or other causes. No bids will be accepted from any person who has not signed a registration form or a bidder sheet.
10)United States coins and currency will not, in conformity with law, be opened at less than face value.
11)No “buy” or “unlimited” bids will be accepted. We will act as agents for all mail bidders in the sale. Mail bids will be opened at the next interval over the second highest bid except where the intrinsic or regular market worth of the item dictates an opening at its fair market value. Floor bidding intervals will have an average increment of about 5% at the discretion of the auctioneer.
12)In the case of a tie between a mail bidder on the book and a bidder on the floor, the mail bidder shall take precedence.
13)All bids must be in whole dollar amounts; this includes percentage increases.
14)Check your bid sheets carefully. SMYTHE can not assume any responsibility for errors made in the amount bid or lot numbers listed. Make sure your bid sheet is signed.
15)No minors may participate in our sales. Agents bidding on behalf of others will be held liable if their principals fail to make payment.
16)Payment for purchases is to be made by cash, check, money order or bank wire upon receipt of invoice. No lots may be taken away unless paid for in full. A late charge of 1-1/2% per month will be charged on the invoice total if payment is not received within 10 days of mailing the invoice. Bidders not known to us are required to deposit 25% of their total bids in advance. Credit cards will not be accepted for auction purchases.
17)Title does not pass until payment in full is received. SMYTHE reserves the right to await clearance of any check before making delivery.
18)A $100 charge will be applied for any check that fails to clear.
19)If a collection agency or attorney is required to collect outstanding accounts, all agency and court costs, witness and attorney fees and all other costs of any kind incurred by SMYTHE in procuring judgment shall be borne by the defendant.
20)The signer of a SMYTHE bid sheet or participant in the auction consents to the exclusive jurisdiction and venue of the state and Federal courts of New York, New York and agrees that these Terms of Sale shall be governed by and construed in accordance with the laws of the State of New York, without giving regard to the principles of conflicts of law. The participant in a SMYTHE auction also assumes both corporate and personal liability for unpaid auction bills.
21)SMYTHE may reopen the bidding on a lot under the following circumstances: 1) SMYTHE has failed to execute correctly a mail bid. 2) A party purchasing the lot on the floor has done so in error. 3) Where a protest is made after the hammer has fallen but before bidding has commenced on the next lot. 4) Where the auctioneer has determined that he has overlooked a party still bidding on the lot but before the calling of the next lot. 5) At the discretion of the auctioneer.
22)In the event of dispute, the auctioneer’s decision is final.
23)New York State sales taxes or other state sales or use taxes shall be levied, as required by law. Dealers and other non residents are reminded that sales tax must be collected unless Form ST-128.1 has been filed properly, under regulations effective 1 December 1982.
24)No price adjustments will be made on the hammer price of a lot whether there is a complaint about the whole lot or only one item in it. The entire lot must be returned if a refund is to be made.
25)In the event of unsuccessful litigation the plaintiff shall pay SMYTHE’S legal costs, counsel and witness fees and all other costs incurred by it in defense against such suit together with interest on any funds expended at the New York prime rate from the date of actual disbursement.
26)The same protections applicable to SMYTHE apply to each and every one of their officers and employees unless they shall be convicted of knowingly selling false or stolen goods.
27)SMYTHE assumes no liability for merchandise lost, stolen or damaged while in the possession of a party to whom merchandise has been shipped. The purchaser is solely responsible for the safe keeping and insurance of any items in their possession.
28)All accounts are payable to SMYTHE in U.S. funds and remittances must cover the service charges for foreign drafts which shall be added to each invoice.
29)All material in this catalogue is unconditionally guaranteed to be genuine. We will not knowingly sell any item that has been “repaired”, “restored”, “processed”, “cleaned”, “pressed”, or “conserved” in any way without disclosing those facts to the potential buyer.
30)Agents who bid from the floor for clients should examine the lots carefully, and are reminded that no lots may be returned by floor bidders except for non-authenticity. Lots described as “repaired”, “corroded”, “holed”, “whizzed”, or like damage may not be returned for any reason except non-authenticity.
31)In cases where a question has arisen as to the authenticity of an item, the purchaser must, before settlement day (30 days after the sale,) notify R.M. SMYTHE of his intention to return the item, confirmed in writing. The item will be examined by a recognized expert; if the item proves authentic, the sale will be consummated. If the item is not authentic, the sale price will be refunded.
32)Mail bidders may return lots for reasons of non-authenticity or improper description within 5 days of receipt or thirty days from the auction’s last day, whichever comes first. Third-party graded coins (i.e. PCGS, NGC, ANACS, ICG ) are sold as is, no returns. Failure to execute this privilege in a timely manner either from a failure to pay promptly or from any other cause shall void it. Lots sold with the proviso ‘sold as is’ cannot be returned. Lots valued primarily for their bullion content may not be returned.
33)The auctioneer reserves the right to postpone the sale by auction for a reasonable period of time as a result of any significant event which, in the sole discretion of the auctioneer, makes it advisable to postpone the event. No prospective bidder or prospective buyer shall have recourse as a result of any postponement.
34)The placing of a bid shall constitute full acceptance of the foregoing Terms of Sale; all bid sheets must be signed by the responsible party.