Philippines to sell Marcos jewelry valued at $21 million

Marcos jewelry

By ASSOCIATED PRESS MANILA, Philippines (AP) — Officials say the Philippine government has approved the auction of the jewelry collection of late dictator Ferdinand Marcos’ 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 President Benigno Aquino III’s term in June.  

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