PCGG, BOC to appraise, auction Imelda’s jewelry collection

MANILA, Philippines – The Aquino administration has made the first step toward auctioning off the billion-dollar jewelry collection of former first lady and now Ilocos Rep. Imelda Marcos to generate revenues for the government.

In a statement yesterday, the Bureau of Customs (BOC) said it signed a memorandum of understanding with the Presidential Commission on Good Government (PCGG) last Oct. 21 “to undertake successful physical inventory, appraisal and auction of the Marcos jewelry collection.”

As a first step, the agencies will push through with the establishment of an inter-agency working group that shall be the sole body to supervise and coordinate with the auction process beginning with a re-assessment of the jewelry set.

Customs Commissioner Alberto Lina and PCGG Chairman Richard Amurao, who signed the MOU, said they would ensure a “successful appraisal and block sale” of the Marcos jewelry set.

“The parties also assure the public that the proceeds shall be deposited without delay to the respective accounts of the National Treasury,” the BOC statement read. – With Evelyn Macairan