We consider a complete sample of 101810 giants with Gaia Data Realease 2 (DR2) parallaxes {varpi} within the red clump domain of the Hertzsprung-Russell diagram in the space cylinder with a radius of 700pc around the Sun and a height of |Z|=1800pc. We use the Gaia DR2 G_BP_, G_RP_, and Wide-field Infrared Survey Explorer W3 photometry. We describe the spatial variations of the modes of the observables G_BP_-G_RP_, G_RP_-W3, G_BP_+5+5log_10_{varpi}, G_RP_+5+5log_10_{varpi}, and W3+5+5log_10_{varpi} by extinction and reddening in combination with linear vertical gradients of the intrinsic colours and absolute magnitudes of the red giant clump. The derived clump median absolute magnitude in W3 agrees with its recent literature estimates. The clump median intrinsic colours and absolute magnitudes in G_BP_ and G_RP_ are derived for the first time at a precision level of 0.01mag. We confirm the reliability of the derived clump absolute magnitudes, intrinsic colours, and their vertical gradients by comparing them with the theoretical predictions from the PAdova and TRieste Stellar Evolution Code, MESA Isochrones and Stellar Tracks, and Bag of Stellar Tracks and Isochrones. This leads us to the median age and [Fe/H] of the clump within |Z|<1.7kpc from the Galactic mid-plane as (2.3+/-0.5)+(3.2+/-1.6)|Z|Gyr and (-0.08+/-0.08)-(0.16+/-0.07)|Z|dex, respectively, where Z is expressed in kpc. These results agree with recent empirical and theoretical estimates. Moreover, all the models give similar age-metallicity relations by use of our results in the optical range. The derived extinctions and reddenings across the whole dust half-layer below or above the Sun converge to the reddening E(B-V)=0.06mag by use of the most reliable extinction laws.