Drag the material onto the glass body and render it. If you did everything right, you got something like this:

Although the glass doesn't seem very realistic, it is. To see the material like it really is, insert a floor object and an Omni light. Now the material shows it's real qualities.

THE COPPER MATERIAL

Since this is and old thing, we need an old material. The most popular for sandglasses (and the prettiest) is copper.

Make a new material and double click it.

Color.

Reflection.

Environment.

The scene's reflection is not enough. To add a little more realism, we should put an Environment. That image will be reflected on the copper.

This is the environment you need:

Specular.

Copper is kind of a dull metal, and that is why we need width:

Drag it to the rest of our objects and render it. You should get something like this:

Hmmm, it doesn't seem real enough. Select the omni you made earlier . Give it these parameters:

Type: Omni

Shadow: Soft

Go to Render Settings and under Antialiazing choose Best. Render the scene.