No Sale Yet For Imelda's Jewels

by Deidre Woollard (RSS feed)
May 28th 2010 at 1:02AM

It looks like the incredible jewels of Imelda Marcos won't be up for sale any time soon. The AFP reports that Philippine President Gloria Arroyo has said that any decision on selling the seized jewels of the former first lady should be left to her successor. Arroyo will be stepping down on June 30 to make room for Benigno Aquino, the son of President Corazon Aquino and former Senator Benigno Aquino, Jr. His parents led anti-Marcos revolution that eventually led to Ferdinand Marcos and his wife leaving the Philippines.

Major auction houses have been brought in to appraise the jewelry and the government could use the cash but the president decided to delay the auction in order to avoid suspicious of a last minute deal. The collection is said to be worth millions and includes a ruby pendant as large as a thumb and a 100-carat diamond necklace. Imelda Marcos continues to insist that her famed extravagances were bought with her husband's personal investments.

Tags: imelda marcos, philippine, Philippines