Imelda Marcos’ jewelry to go on for sale after approval from Philippine president

The jewelry of previous Philippine first lady Imelda Marcos, renowned for her indulgent spending and tremendous shoe collection, will go for sale with the returns going to profit the Philippine Peoples, the president’s representative said on Thursday.

The government’s assets recovery body had looked for President Rodrigo Duterte’s endorsement for the sale of one of the three sets of jewelry seized three decades back after the fall of Imelda’s significant other, the late tyrant Ferdinand Marcos.

“I asked (Duterte), are you going to give your go signal to sell? (He said) yes, as long as the proceeds from the sale will benefit the public,” presidential spokesman Salvador Panelo told reporters in Tokyo where Duterte is on a working visit.

The collection, seized in Hawaii, where Ferdinand and Imelda Marcos lived in exile, includes a rare 25-carat, barrel shaped diamond which London-based auction house Christie’s said in 2015 could be valued at $5 million.

The government had tried to auction the collections in the past but Imelda Marcos, now 89, had contested the move. The three sets in the collection, held in the central bank’s vault for safekeeping, were valued at $6 million in 1991.

Imelda is perhaps best known for leaving behind more than a thousand pairs of shoes when her family fled the Philippines after a people power revolution in 1986.

But after the late dictator died in exile in 1989, the Marcos family was allowed to return and have made a political comeback with several members elected to public office.

Duterte’s rise to power has been a boon for the Marcos family. He backed the senatorial campaign of Imelda’s daughter, Imee, who won a senate seat in this month’s mid-term polls.

Avatar

This article has been posted by a News Hour Correspondent. For queries, please contact through [email protected]
No Comments

Translate this News

Join the Facebook Group

Click here to join the Facebook group of News Hour

Popular Posts

Advertisement

News of the Month

May 2019
S M T W T F S
« Apr   Jun »
 1234
567891011
12131415161718
19202122232425
262728293031  
Scroll Up
%d bloggers like this: