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Just a question: If and when this jewelry collection is sold, where does the money go?
“The Bureau of Customs (BOC) and the Presidential Commission on Good Government (PCGG) have agreed to auction off the jewelry recovered from the family of the late dictator Ferdinand Marcos estimated to be worth between USD$5 million to USD$8 million (about PHP236 million to PHPP377 million),” reports Tina G. Santos in Philippine Daily Inquirer.
The report noted: “The BOC said it signed last Oct. 21 a memorandum of understanding with the PCGG to recover the ill-gotten wealth of Marcos and his family, under which they agreed to undertake a physical inventory, appraisal and auction of the Marcos jewelry collection.”
The Marcos Jewelry Collection includes the disputed Malacañang Collection — which is currently under the custody of the President and still subject to appeal — was already estimated to be worth between USD$5 million and USD$8 million in 1991.
The BOC explained that “an interagency working group (IWG) will be formed to coordinate the inventory, appraisal and auction with the other government offices concerned.”
