MANILA, Philippines — The Philippine government has approved the public exhibit and auction of the jewelry collection of late President Ferdinand Marcos’ widow Imelda which international experts have appraised to be now worth at least 21 million dollars or about one billion pesos.
The hoard was seized when Marcos and his family fled to Hawaii in 1986.
They include a 25-carat, barrel-shaped diamond worth at least 5 million dollars and a Cartier diamond tiara that is now many times more valuable than the previous estimate of 30,000 to 50,000 dollars.
The government’s privatization council headed by the department of finance last week approved the sale of the jewelry.
A portion of the collection seized at the presidential palace when the Marcoses fled, however, is still being contested in court.
Other pieces of jewelry were seized in Hawaii and at Manila’s airport.
