The government has started the appraisal of the Marcos jewelry collections, even as some officials believe the incoming administration should conduct the auction.
Presidential Commission on Good Government (PCGG) commissioner Ricardo Abcede went Wednesday to the Bangko Sentral ng Pilipinas (BSP), where three Marcos collections are being kept, along with a gemologist from international auction company Christie's, to start the appraisal of the jewelry. This page requires a higher version browser The Roumeliotes, Malacañang, and Hawaii collections of Marcos jewelry have been kept in a vault at the BSP for over 20 years now, so Abcede believes they have to be auctioned off before the Arroyo administration ends.
"I am very much eager for the people because they have to benefit from this. Remember that this is ill-gotten wealth that has to be given back to the people," Abcede said in an interview aired over GMA News’ “24 Oras" newscast. Other PCGG officials, including PCGG Chair Camilo Sabio, however, opposed the holding of the auction now, saying it is better to leave it to the next administration. "That's my position. I stick to it," Sabio said. But Abcede insists no resolution is needed for the auction to push through. He said he was tasked by Sabio himself as early as 2005 to represent the PCGG in the Privatization Council (PrC), which administers the auction of the Marcos jewelry collections. "The auction should push through because if it is postponed again, the new administration will have to plan and get in touch with these jewelry auctionists again. They will have to go through all of this again, and the auctionists might get tired of us. Remember that they are here at their own expense," Abcede explained. Meanwhile, Finance Secretary Margarito Teves, who also heads the PrC, said the three collections may not be auctioned off at the same time. "If it will take long, perhaps we can go ahead first with the Roumeliotes collection if the prices given were good based on the valuation of Sotheby's or Christie's," Teves said in the GMA newscast. Another gemologist from London is set to arrive Thursday, while two more from Sotheby's Hong Kong are coming on Friday, when the appraisal is set to be concluded. The media were not allowed to witness the actual appraisal, but its results are expected to be displayed at the BSP next week.—Jerrie M. Abella/JV
