Philippines to auction off $21m worth of Imelda Marcos’s jewellery

Hoard seized from late dictator Ferdinand Marcos’ widow includes 25-carat, barrel-shaped diamond worth at least $5 million and a Cartier diamond tiara

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The Philippine government has approved the public exhibit and auction of the jewellery collection of late dictator Ferdinand Marcos’ widow Imelda which international experts have appraised to be now worth at least 1bn pesos ($21m).

The hoard was seized when Marcos and his family fled to Hawaii in 1986 following a popular revolt that ended his two decades in power.

It includes a 25-carat, barrel-shaped diamond worth at least $5m and a Cartier diamond tiara that is now many times more valuable than the previous estimate of $30,000 to $50,000.

Imelda Marcos

(Imelda)

Andrew de Castro of the Presidential Commission on Good Government, an agency tasked to recover the Marcoses’ ill-gotten wealth, said on Monday they hope to hold the exhibit and auction before the end of President Benigno Aquino III’s term in June, when the terms for the current members of the commission also end.

-more at The Guardian

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