Killer club that can adjust its loft, lie, and length! A one-club-that-fits-all mechanical marvel! Here's how it works. Two screws in the back of the head adjust the loft and lie of the club.  The large nut on the base of the grip unscrews so the shaft can slide up or down in the grip to lengthen or shorten the club.  The auctioneer was unable to adjust the length, because the connection between the grip tube and the shaft is tight, likely not having been adjusted in decades.  Might very well come loose with a little WD-40 or some other treatment.  Grip is a metal tube. overall club length is currently 38 1/2".  Gotta love these mechanical creations and the ingenuity displayed.