Philippines to sell Marcos jewelry valued at $21 million

Marcos jewelry

By ASSOCIATED PRESS , Philippines (AP) — Officials say the Philippine government has approved the auction of the jewelry collection of late dictator Ferdinand ’ widow Imelda, which international experts have appraised to be now worth at least 1 billion pesos ($21 million).

The staggering hoard was seized when Marcos and his family fled to Hawaii in 1986 following a popular revolt that ended his two decades in power. They include a barrel-shaped diamond worth at least $5 million and a Cartier diamond tiara that’s many times more valuable than the previous estimate of $30,000 to $50,000. Andrew de Castro of the Presidential Commission on Good Government, an agency tasked to recover the Marcos’ ill-gotten wealth, said Monday they hope to hold the exhibit and auction before the end of Benigno Aquino III’s term in June.  

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