webfact Posted November 25, 2015 Share Posted November 25, 2015 Marcos jewelry being appraised ahead of possible auctionMANILA: -- The Philippine government is appraising millions of dollars' worth of jewelry seized three decades ago from Imelda Marcos, the former first lady known mainly for her massive stash of shoes, as it decides what to do with the dazzling collection, according to philstar.com.The jewelry collection, which includes a diamond worth at least $5 million, was seized when Marcos’ family fled to Hawaii in 1986 following a popular revolt that ended her husband’s two decades in power.Ferdinand Marcos’ family allegedly amassed billions of dollars’ worth of ill-gotten wealth. His widow, now 86 and a member of Congress, became known for excesses, symbolized by her huge shoe collection and staggering jewelry.The jewelry collection, comprising three sets seized in various locations, was valued at $5-7 million when it was last appraised in 1988 and 1991.The collection, however, is likely to have significantly risen in value, Andrew de Castro, of the presidential commission tasked to recover the wealth, said Tuesday.The jewelry will be appraised before the government decides whether to auction it off, he said, calling the collection a physical manifestation of excesses during the Marcos regime at a time when many Filipinos were suffering in poverty. There also are suggestions that the jewelry could be put in a museum or an exhibit.Source: http://englishnews.thaipbs.or.th/marcos-jewelry-being-appraised-ahead-of-possible-auction -- Thai PBS 2015-11-25 Link to comment Share on other sites More sharing options...
scorecard Posted November 25, 2015 Share Posted November 25, 2015 Museum. No, it would only glorify the evil imelda. Sell it and use the money for poor schools or similar, but making sure thre is no chance madam or her family can claim she donated the money. Link to comment Share on other sites More sharing options...
BigBadGeordie Posted November 25, 2015 Share Posted November 25, 2015 Send it on loan to the Thai corruption museum? Link to comment Share on other sites More sharing options...
GOLDBUGGY Posted November 25, 2015 Share Posted November 25, 2015 Which rich and famous person would want to buy this jewelry for $10 Million Dollars knowing full well it belonged to Marcos? I know if I had this money I wouldn't. That would be like walking around with a Bengal Tiger Fur Coat! The only way they are going to sell this jewelry at any price is if they destroy it and sell the diamonds separately. That should also reduce the appraised value as well, but this is what they will have to do to sell it at, if they sell it at all. Putting it on display is not a good idea either. Not sure what the best solution is, but selling it at full value is a Pipe Dream, at best. Link to comment Share on other sites More sharing options...
humqdpf Posted November 25, 2015 Share Posted November 25, 2015 Which rich and famous person would want to buy this jewelry for $10 Million Dollars knowing full well it belonged to Marcos? I know if I had this money I wouldn't. That would be like walking around with a Bengal Tiger Fur Coat! The only way they are going to sell this jewelry at any price is if they destroy it and sell the diamonds separately. That should also reduce the appraised value as well, but this is what they will have to do to sell it at, if they sell it at all. Putting it on display is not a good idea either. Not sure what the best solution is, but selling it at full value is a Pipe Dream, at best. Normally you reduce the value when you try to sell jewellery broken down into stones and precious metals. But in cases where the jewellery is of such questionable taste, you make find the opposite is the case. Link to comment Share on other sites More sharing options...
ableguy Posted November 25, 2015 Share Posted November 25, 2015 Which rich and famous person would want to buy this jewelry for $10 Million Dollars knowing full well it belonged to Marcos? I know if I had this money I wouldn't. That would be like walking around with a Bengal Tiger Fur Coat! The only way they are going to sell this jewelry at any price is if they destroy it and sell the diamonds separately. That should also reduce the appraised value as well, but this is what they will have to do to sell it at, if they sell it at all. Putting it on display is not a good idea either. Not sure what the best solution is, but selling it at full value is a Pipe Dream, at best. This is simply your opinion sir, not fact. Link to comment Share on other sites More sharing options...
elgordo38 Posted November 25, 2015 Share Posted November 25, 2015 What is wrong with people there after all this outright theft she is now sitting in Congress? I am sure this jewelry is only the tip of the iceberg of all the money rustled out of the country. She should be sitting in jail for the rest of her natural days. Link to comment Share on other sites More sharing options...
JHolmesJr Posted November 25, 2015 Share Posted November 25, 2015 There is no way this money gets to the poor. Link to comment Share on other sites More sharing options...
TheCruncher Posted November 25, 2015 Share Posted November 25, 2015 What is wrong with people there after all this outright theft she is now sitting in Congress? I am sure this jewelry is only the tip of the iceberg of all the money rustled out of the country. She should be sitting in jail for the rest of her natural days. She is worth 22 Million US$ https://en.wikipedia.org/wiki/Imelda_Marcos In 2012, Marcos declared her net worth to be US$22-million and she was listed as the second-richest Filipino politician behind boxer and representative Manny Pacquiao Link to comment Share on other sites More sharing options...
GOLDBUGGY Posted November 26, 2015 Share Posted November 26, 2015 Which rich and famous person would want to buy this jewelry for $10 Million Dollars knowing full well it belonged to Marcos? I know if I had this money I wouldn't. That would be like walking around with a Bengal Tiger Fur Coat! The only way they are going to sell this jewelry at any price is if they destroy it and sell the diamonds separately. That should also reduce the appraised value as well, but this is what they will have to do to sell it at, if they sell it at all. Putting it on display is not a good idea either. Not sure what the best solution is, but selling it at full value is a Pipe Dream, at best. This is simply your opinion sir, not fact. Doesn't have to be a fact here. This is not a Court Room. This is an open topic forum where people are allowed to express there opinion, and like I have. So we don't need people here thinking this is some Court Room and they are sitting in some Judge's Bench and setting the Court Rules here for everyone, as to what is Fact or Opinion. We have Moderators here who do that for us. So your point was what again? Link to comment Share on other sites More sharing options...
GOLDBUGGY Posted November 26, 2015 Share Posted November 26, 2015 Which rich and famous person would want to buy this jewelry for $10 Million Dollars knowing full well it belonged to Marcos? I know if I had this money I wouldn't. That would be like walking around with a Bengal Tiger Fur Coat! The only way they are going to sell this jewelry at any price is if they destroy it and sell the diamonds separately. That should also reduce the appraised value as well, but this is what they will have to do to sell it at, if they sell it at all. Putting it on display is not a good idea either. Not sure what the best solution is, but selling it at full value is a Pipe Dream, at best. Normally you reduce the value when you try to sell jewellery broken down into stones and precious metals. But in cases where the jewellery is of such questionable taste, you make find the opposite is the case. I agree. But then the question comes up that when they appraise jewelry like this do they take in account its questionable background, or do they just appraise it for its quality value? Either way, I feel it is unlikely they will be able to sell it at full value under these said conditions. Unless Marcos buys it back herself, or someone like that along those lines. I don't think someone rich and famous would like to be caught walking around in a Bengal Tiger Fur Coat on either, but that is not to say everyone is like that. The true value of this Jewelry is what someone is willing to pay for it on a bid. I would think that the less bidders there are, the lower the price. Just like any other auction. But it still is not to say that someone won't pay more for them then what they are appraised at, if they want them bad enough and have the money to spare. So I guess we will just have to wait and see. Link to comment Share on other sites More sharing options...
Seastallion Posted November 26, 2015 Share Posted November 26, 2015 Which rich and famous person would want to buy this jewelry for $10 Million Dollars knowing full well it belonged to Marcos? I know if I had this money I wouldn't. That would be like walking around with a Bengal Tiger Fur Coat! The only way they are going to sell this jewelry at any price is if they destroy it and sell the diamonds separately. That should also reduce the appraised value as well, but this is what they will have to do to sell it at, if they sell it at all. Putting it on display is not a good idea either. Not sure what the best solution is, but selling it at full value is a Pipe Dream, at best. I think to the contrary. The kind of wealth that buys these sorts of trinkets want talking points. Immense value is passe, and everyone in their social circle has immense wealth, but not everyone has a famous piece, or an infamous piece. It's quite possible the auction will fetch more than the appraised value. Link to comment Share on other sites More sharing options...
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