King Richard II's timepiece found in Australian shed

In the 1970s, children playing in the shed of a Queensland, Australia cattle station happened upon a brass quadrant marked with the badge of King Richard II. Now the instrument is scheduled to be auctioned with an estimated price tag of US$233,000-$311,000. (photo)

"It's one of only five known in the world. It dates from a particular period - in fact it's dated 1396 so from the reign of Richard II - and it's just very rare that these things come onto the market. It's going to be keenly sought," said Bonhams' Australian operations chief James Hendy.

On December 13, 2011, the quadrant will be auctioned by Bonhams auction house.

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