Jimmy's first Pearl kit with the band (1988-89) was sold in 1992 to Pumpkins' friend and fan mail handler Laura Ann, who was in her own band at the time. In 2009, Laura Ann was in a motorcycle accident, and decided to auction off Jimmy's set to pay for her medical bills, since insurance didn't cover nearly enough. Billy also auctioned off the bass used at the band's first show, and played a benefit concert under the name Backwards Clock Society, with Kerry Brown and Mark Tulin.
Jimmy's note for the auction reads as follows:
Oct 15, 2009
I got this Pearl drumset as a trade for a yellow Gretsch kit that I was playing when I just joined the Pumpkins. This set had more drums and of course "more drums are better"! I used this kit int he early stages of the band as well as on the Gish recording.
I sold the drums to Laura when I got my first Yamaha endorsement in 1992. I was teaching her how to play at the time and I thought that out of all my students, she was the best and deserved the drums. These drums have served us both well!
Images from SmashingPumpkins.com