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This actually blew me away because, I had never explored the Imperial Palace but, if you travel down to the basement level (To the left right when you walk in, you'll also need a key which any of the guards hold), you'll find a huge chair, a massive mace, a huge crystal ball, and a big hourglass which is called "Glass of Time" and can be activated. All it does when I activate it is trigger some red swirl around it, nothing happens. If anyone knows what this thing is or what quest it relates to, please let me know.