Try this:

• 2 raytrace bounces
• irradiance caching 50
• indirect light quality 50
• pixel samples 3
• min shading rate 0.25
• max bucket size 32
• min displacement bounds 1.000 (and tick the "use displacement maps" box)

     I suspect that it's the high irradiance caching which is most responsible for slowing the render, and the raytrace bounces should be kept down to only what's needed;  you can later increase it if the render finishes quickly, but don't start with a lot of bounces.  Increase irradiance caching and indirect light quality together, if you can do so with reasonable render times.  The low indirect light quality will cause splotchy IDL effects.  Engage the use displacement maps because my wand MAT has fine bas-relief detail on the wand shaft.

     Render four threads at work;  render twelve threads on the HyperThreaded hex-core at home.

     You should not try to use the existing wand which was in your scene.  It will not have the properties set correctly.  So, note the translations and rotations, delete the wand, add my wand & IDL kit to the scene, select the new wand, and give it the same translations and rotations as the old wand.

Poser 12, in feet.  

OSes:  Win7Prox64, Win7Ultx64

Silo Pro 2.5.6 64bit, Vue Infinite 2014.7, Genetica 4.0 Studio, UV Mapper Pro, UV Layout Pro, PhotoImpact X3, GIF Animator 5