BOC to auction 60 pieces of Marcos jewelry

MANILA, Philippines - All 60 pieces of Marcos jewelry in the possession of the Bureau of Customs (BOC) will be auctioned off, along with those in the custody of the Presidential Commission on Good Government (PCGG).

The Roumeliotes collection will also be put on the auction block, Belle Maestro, spokesman for Customs Commissioner Alberto Lina said.

“The auction date has yet to be determined… hopefully by next month,” she said.  

PCGG commissioner Andrew de Castro said they are leaving it up to the BOC to decide on what would happen to the Roumeliotes collection, it was reported over the weekend.

Comprised of only around 60 pieces of jewelry, the Roumeliotes collection is, however, deemed to be the most expensive among the three Marcos jewelry collections.

It was seized from alleged Marcos associate Demetriou Roumeliotes as he tried to smuggle it out of the country.

It was later forfeited in favor of the BOC as the attempt to smuggle jewelry out of the country is a violation of the Tariff and Customs Code.

The PCGG has given a “conservative estimate” of P1 billion for the three jewelry collections: the Roumeliotes, Hawaiian and Malacañang.

The PCGG could not disclose the value of each collection because this might affect the bidding prices, Maestro said.

As per PCGG, the three collections were pegged at more than a billion pesos, tenfold from the previous appraisal.

“However, further gemological testing will be required for a more accurate estimate,” Maestro said.

“The BOC and PCGG are currently establishing a panel that will oversee the auction process and the selection of an auction house,” she said.

Revenue from the auction would lower the BOC’s collection deficit.