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Want Imelda Marcos' Diamonds? Step Over Here, Bud!
The Phillipine Daily Inquirer today reports that the Phillipine government is ready to auction off the diamond jewelry once owned by Phillipine First Lady, Imelda Marcos.
The Philipine government expects to recover around $10 million from the sale. It said the collection included a yellow gold 30.71-carat diamond-studded bracelet with a central marquise cut diamond crafted by Bulgari. When appraised by Sotheby's in 1990, it was reportedly valued conservatively at from $800,000 to $1.2 million.
The jewelry, now being held in escrow in a Phillipine Central Bank vault, has been independently appraised and found to be genuine.The Phillipine government is finalizing the conditions and details of the auction, including the venue and date of the auction,with the expectation that the auction and sales will be consummated by the end of 2005.
Gem and Diamond Appraisers have described the jewelry pieces as "works of art" because of their exquisite designs, breathtaking size, and the superb quality of the gems.
Now in her early 70s, Imelda Marcos faces several graft cases before local Phillipine courts. The cases are linked to her stint as housing minister and governor of Metro Manila.
The Phillipine government has recovered Marcos-linked assets in the Philippines amounting to P50 billion and $683 million from Swiss bank accounts.
But, hey guys!! What about her SHOES!!?? Probably worth more than the diamonds and gems!
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