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He intends to let Moran know that he is about to be castrated. Gelded. He wants to hear his lover crying and pleading, begging and offering anything to him, no matter how degrading or disgusting or obscene, in exchange for keeping his manhood intact. And all the while Sebastian is sobbing and writhing in his restraints, Moriarty will imagine that it is Holmes he has before him, subjugated. Beaten. Gelded.
He passes a thin rope around Moran's testicles. "Do you know why I am doing this, Sebastian?"
"No, Sir, unless it is to hurt me."
"Oh, yes, my dove. To hurt you and transform you. To make you my perfect concubine. My wife, in all but name. You have the most delicious, tight, cunt, and I shall certainly continue to enjoy that. But these," - he runs his fingertips lightly over Sebastian's testicles - "are of no use to me and, for that matter, neither is this."
Sebastian bucks and struggles against the restraints as the Professor pinches his foreskin viciously. "Hush, hush, Sebastian. You can struggle all you want, but your exertions are futile, my love. I shall do this, and you cannot stop me."
After checking to reassure himself that Moran cannot escape the restraints, Moriarty retrieves a large metal implement from the Gladstone bag beneath the "operating table", and holds it up so that Sebastian can see it clearly. "Do you know what this is, Sebastian?"
Moran shakes his head, eyes wide with fear, his throat suddenly too parched to utter even a single word. "It is an emasculator, Sebastian. An implement used in the castration of livestock. Its function is to simultaneously crush and cut the spermatic cord, preventing haemorrhaging whilst still detaching the testes from the animal. I shall use it to detach your testes."
"Whilst I would normally savour the screams and cries of pain from one so restrained for my attentions, I imagine that you may be a little too voluble in the present circumstances." The Professor retrieves a thick leather bit gag from the bag, and forces it between Sebastian's lips, fastening the straps tightly at the back of his head.
"Now, let us begin."