Old watches: Act of Parliament clock 'fetches £8,800 at auction'

First published: 08-02-2010

A clock that is over 200 years old has sold at auction for £8,800, it has been revealed.

The George III Act of Parliament clock was originally produced around 1797 and is decorated with hunting scenes, the BBC has reported.

It was one of a series of pub clocks produced after watches were taxed, leading to many people foregoing watches.

In order to tell the time, many people visited inns in see clocks of this type - stopping to have a drink at the same time.

Paul Howard, senior auctioneer at Shapes, claimed that it is very unusual for one of these timepieces to appear.

He stated: "The tax was repealed after only a matter of months, which explains why genuine Acts of Parliament clocks are so rare."

Those with gold watches could also be in line for a windfall soon, following a prediction from Richard O'Brien, president of Newmont Mining Corporation, that gold prices may soon reach $1,350 (£846) an ounce.