Philippines to auction $21m jewellery seized from ex-first lady

The Philippines says it will auction the $21.27m worth
of jewellery seized from former first lady Imelda
Marcos.
The Presidential Commission on Good Government
said on Monday in Manila that the sale of the jewellery
has been approved last week by an inter-agency
Privatisation Council.
The PCGG Chairman, Richard Amurao, expressed the
hope that the Filipinos would finally benefit from the
proceeds of the collection.
He said the jewellery confiscated from the Marcoses
remains a singular manifestation of the misguided
priorities of the Marcos presidency during his reign.
Amurao said no date has been set for the international
auction, but the auction houses, Christie’s and
Sotheby’s, have appraised three sets of jewellery
seized from Imelda Marcos in November.
The value of all three collections now amounts to a
conservative estimate of at least $21.27m (1 billion
pesos).
He said the items include a rare 25-carat pink
diamond, a range of necklaces, brooches and crowns
made from Burmese rubies, other diamonds from India
and South Africa, and emeralds from Colombia in
various sizes.
Amurao said some pieces were from renowned
international jewellery makers such as Bulgari, Van
Cleef and Arpels, and Bucellatti, as well as
wristwatches from Patek Philippe, Rolex and Cartier.
He said the PCGG planned to put on show part of the
jewellery collection before its international auction to
remind the Filipino people of the excesses of the
Marcos dictatorship.
Ferdinand Marcos ruled for 20 years until he and his
family were forced into exile by a four-day mass
uprising in February 1986.
Members of his family still face dozens of corruption
charges for allegedly stealing billions of dollars from
the country’s coffers.
The family has made a comeback in politics with
Imelda Marcos holding a seat in Congress.
Her son is a senator and her eldest daughter is a
provincial governor.
Senator Ferdinand Marcos Junior is running for vice
president in national elections in May.
The commission was formed after the ouster of former
dictator Ferdinand Marcos to recover assets allegedly
stolen by his family and associates.
NAN