an apparatus for measuring and recording the progress of time; chronometer.
a clock or a watch.

1755–65; time + piece

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World English Dictionary
timepiece (ˈtaɪmˌpiːs)
1.  any of various devices, such as a clock, watch, or chronometer, which measure and indicate time
2.  a device which indicates the time but does not strike or otherwise audibly mark the hours

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Example sentences
In our own age, the commonest of these is the mechanical timepiece: the clock
  or watch.
The founder of the pop art movement dabbled in other artsy industries, even
  creating a special timepiece.
The timepiece has a sapphire-crystal, polished-steel case and a tachymeter to
  measure speed.
Small enough to pack in a pocket, this solid little timepiece is a precision
  marvel of miniaturization built to travel.
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