MANILA, Philippines - The Presidential Commission on Good Government is studying the possibility of holding an electronic bidding when government finally moves to dispose of P15-billion worth of confiscated jewelry of former First Lady Imelda Marcos.
Lawyer Ricardo Abcede, PCGG commissioner for litigation, said the agency was looking into this option in its quest to sell the jewelry of Marcos to generate revenues for the government.
Electronic bidding, he said, was another option aside from having the jewels auctioned by known international auctioneers Sotheby’s, Christie’s, or Bonham’s.
The electronic option, he said, was suggested to them by former Philippine Charity Sweepstakes Office (PCSO) chairman Manuel Morato, who is an antique collector.
Abcede said that he has strongly recommended to the Department of Finance and the Bureau of Customs (BOC) to dispose of the Marcos jewelry as the government looks for additional revenue to bring down the budget deficit.
According to Abcede, the Marcos jewels are stored in the vaults of theBOC and the Bangko Sentral ng Pilipinas (BSP).
Abcede expressed optimism that the Marcos jewels would fetch high prices considering the lingering fascination with the former first lady.
It was learned that the Marcos jewels were made up of three collections namely the Malacañang, the Hawaii, and the Roumeliotes collections.
Abcede said that the Malacañang collection is made up of the jewels left by the Marcoses in the Palace when they fled from the country at the height of the EDSA People Power revolt in February 1986.
The Hawaii collection is composed of those seized from Imelda by Customs authorities when the family arrived there from the Philippines, while the Roumeliotes collection was seized from a Greek courier of the Marcoses who attempted to smuggle a portion of the Marcos jewels out of the country in 1986.
The PCGG held a public display of all the jewels in September 2005, and auctioneers appraised their value at P15 billion in 2006. – Rainier Allan Ronda