Duterte OK's auction of Imelda Marcos' P704.8-million seized jewelry

Duterte OK's auction of Imelda Marcos' P704.8-million seized jewelry

President Rodrigo Roa Duterte while still busy attending to his presidential duties in Japan gave the green light to auction the Marcos jewels- P704.8-million worth of jewelry of former first lady Imelda Marcos.
These jewelries were seized by the government at the downfall of her late husband Ferdinand Marcos in 1986. The sale was given a caveat by the President saying the proceeds of such auction should trickle down to benefit the public.

"Sabi ni presidente kagabi na payag ang presidente na makinabang ang taumbayan doon sa mga jewelry. So tinanong ko siya, "are you going to give the go-signal," sabi niya 'yes'," Presidential Spokesperson Salvador Panelo told reporters in Japan.
Former first Lady Imelda Marcos (photo credit to owner)

"Basta ang kailangan makarating sa taong bayan 'yung sale, 'yung proceeds," Panelo said.
When asked about when can the President sign the order for the auction, Panelo responded: "Depende na sa kaniya basta (it depends on him but) he agrees with it."

It should be noted that the Commission on Audit (COA) made an earlier statement that it only needs the approval of President Duterte for the Marcos’ jewelry collections to be auctioned.
In a letter dated Sep. 7, 2018, the PCGG wrote to the Office of the Executive Secretary, COA, and Department of Finance for guidance and approval of the auction of Marcos’ jewelry collections namely:
- The Malacañan Collection, retrieved in Malacanang after the EDSA Revolution in 1986

- The Roumeliotes Collection, seized and forfeited by the Bureau of Customs from Demetrious Roumeliotes, a Greek national and alleged associate of Marcos, at the Ninoy Aquino International Airport in 1986
- The Hawaii (Honolulu) Collection, confiscated by the United States government from the Marcoses in Hawaii in 1986
"In relation to this, we are respectfully requesting for approval from your offices to proceed with all activities preparatory to disposition, including allowing the above-mentioned auctioneers access to the Bangko Sentral ng Pilipinas (BSP) vaults to perform appraisal," the letter read.

All in all the 3 jewelry collections were valued at P1 billion at a re-appraisal by auction houses Christie's and Sotheby's in February 2017.
Christie's described Marcos' jewelry collections as fit for royalty as it includes Indian diamonds, Burmese rubies and Colombian emeralds.

What can you say about this?

Share us your thoughts by simply leaving on the comment section below. For more news updates, feel free to visit our site often.

Stay updated with today's relevant news and trends by hitting the LIKE button.

Thanks for dropping by and reading this post.

Report from ABS-CBN News

Post a Comment