MANILA - The Presidential Commission on Good Government on Tuesday said it still wants to put on public display jewels seized from the family of the late dictator Ferdinand Marcos.
PCGG Chairman Andres Bautista said an exhibit of the Marcos jewels will remind the Filipino people about "the excesses that happened during the martial law years."
Placing the jewels on exhibit will also enhance their value, according to Christie's Auction House and Sotheby's.
"If we are going to auction them, that is a policy decision that can be made after an exhibit," Bautista told ANC's Headstart.
There are currently three sets of jewelry held for safekeeping in the Bangko Sentral ng Pilipinas vault: 1) the Roumeliotes Collection; (2) the Malacañang collection; and (3) the Hawaii/PCGG Collection.
Last month, the Sandiganbayan forfeited in favor of the Philippine government the third Imelda Marcos jewelry collection that was seized in 1986.
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| Antique Sapphire and Diamond Necklace worth US$220,000 or approximately P9,775,700. According to the PCGG, this could fund 120 classrooms or provide the annual salaries of at least 50 public school teachers. |
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| Cabochon Ruby, Mabe Pearl and Diamond Tiara. According to Christie's 2003 appraisal, this one tiara is worth US$20,000 or approximately PHP888,700. According to the PCGG, this could finance the college education (tuition for 4 years) of about 426 students at the Polytechnic University of the Philippines. |
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This belt of intricately woven 18k gold with a diamond studded buckle is estimated by Christie's to be worth US$15,000 in 2003.
That dated estimate translates to approximately P666,525, enough to provide at least 460 families with the maximum grant under the conditional cash transfer program. Photo by the Presidential Commission on Good Government.
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| Cultured Pearl and Diamond Tiara by Catchpole & Williams with estimated value of $20,000 to $25,000. |
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| Other pieces of Marcos jewels. |
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| Other pieces of Marcos jewels. |
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| Other pieces of Marcos jewels. |
Based on the estimate of Christie's Auction House in 1991, the total value of all three sets of Marcos jewelry stored at the Bangko Sentral ng Pilipinas vault ranges from a low of $6,379,060 to a high of $8,571,494.
At current exchange rates, the value of the jewels ranges from PHP283,453,531 to PHP380,874,335.
