Est. 2002 - BRINGING YOU THE VIEWS OF TESSADOM
If a scrimshaw compass is the kind of frightening uncanny bone-needled blood-seeking China Miéville nautical artifact it sounds like, then I think absolutely you need one.
Ha! No, scrimshaw is the name of art by-products from whalers. You know, they're bored at sea and have nothing better to do than play with giant marine mammal teeth.
Teeth which undoubtedly have eldritch properties! Especially if the whales died by violence.