Thursday, December 2, 2021
politiko-politics-ph-logo

Want to buy one? Imelda’s jewelry up for auction

Nov 13, 2015 @ 8:54

The jewelry collection of former First Lady and re-electionist Ilocos Norte 2nd District Rep. Imelda Marcos is up for reappraisal within the year.

The Presidential Commission on Good Government (PCGG) said this is part of the process to have the alleged ill-gotten wealth of the Marcoses auctioned off.

In a statement, PCGG confirmed it has signed an agreement with the Bureau of Customs (BOC) for the conduct of appraisal and eventual auction of the confiscated jewelry.

“Internationally known and acknowledged appraisers have been invited to appraise the collection, which PCGG and BOC expect to happen within the year,” the agency said.

The collection includes those confiscated by the US Customs upon the arrival of the Marcoses in Hawaii in 1986, as well as those confiscated from Demetrious Roumeliotes, a close associate of the family.

It also includes the so-called Malacañang Collection, which was declared ill-gotten by the Sandiganbayan in 2014.

The Malacañang collection worth at least US$100,000 is so called because they were left behind at the presidential palace when the Marcoses fled to Hawaii.

Imelda’s jewelry collection estimated to be worth US $8.6 million is being kept at the vault of the Banko Sentral ng Pilipinas (BSP).

In the 1991 appraisal by Christie’s Auction House, the value of the three sets of jewelry ranged from a low of US $6.4 million to a high of US $8.57 million.

The PCGG expects the value of the jewelry to have significantly increased in the past years.

Politiko would love to hear your views on this...
Disclaimer:
The comments posted on this site do not necessarily represent or reflect the views of management and owner of POLITICS.com.ph. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

Trending News

Want Politiko alerts on your inbox? Subscribe here.