PH eyes sale of P237-M rare diamond, other Marcos jewels


Posted at May 03 2017 12:01 PM

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MANILA - The Duterte administration will pursue the sale of the controversial Marcos jewelry collection.

The Department of Finance said the government will sell 300 pieces of jewelry and other luxury items seized from the family of former President Ferdinand Marcos.

It said the DOF may need to reappraise the collection before the pieces are put on the auction block.

The auction of the jewelry was deferred during the previous administration due to lack of time.

The jewelry set called the "Hawaii Collection" includes a 25-carat "extremely rare" pink diamond estimated to be worth at least P237 million.

Proceeds from the sale will go to the Bureau of Treasury and the Presidential Commission on Good Government. ANC, May 3, 2017