Marcos Jewelry set for auction

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The Presidential Commission on Good Government (PCGG) and the Bureau of Customs (BOC) have signed an agreement for the auction of recovered Marcos Jewelry Collection.

The PCGG was behind the recovery of ill-gotten wealth of late former President Ferdinand Marcos and his cronies, while the Bureau of Customs was mandated to prosecute violators of the Tariff and Customs Code of the Philippines.

On March 1, 1986, the BOC seized from one Demetrious Roumeliotes, an American citizen and an alleged close associate of the Marcoses, a huge collection of valuable jewels intended to be illegally brought out of the country.

The Roumeliotes Collection and another collection of extravagant pieces of jewelry known as the Hawaii Collection together are referred to as the Marcos Jewelry Collection, which the BOC holds in trust for the government.


A 1991 valuation of the Marcos jewelry stash, including the contested Malacanang Collection, under the custody of the President, is still subject of an appeal, but estimated to have a value 5 to 8 million US dollars.

Under the agreement, the BOC and PCGG commit to undertake successful physical inventory, appraisal and auction of the Marcos collection.

An Inter-Agency Working Group (IWG) shall be constituted to coordinate efforts and responsibilities of the two parties and other concerned government offices to carry out their objective.

The IWG shall, aside from establishing the Terms of Reference, procure auction services in accordance with all relevant government procurement laws and regulations such as RA 9184.

It shall also supervise and coordinate with the winning bidder/auction house the actual holding of the auction for the Marcos Jewelry Collection.

The agreement was signed by BOC Commissioner Alberto Lina and PCGG Chairman Richard Amurao.

PCGG Commissioner Andrew Felix Arsenio de Castro and BOC Deputy Commissioners Arturo Lachica and Agaton Uvero witnessed the recent signing of the agreement.

Lina and Amurao vowed to work together for a successful appraisal and bloc sale of the collection to maximize proceeds.

The parties also assured the public that the proceeds shall be deposited without delay in the respective accounts of the National Treasury.

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4 Comments

  1. David Meyer, you are spot on & the filipino people should stand as one & demand something done today. We know its difficult but it has to be done. But how stupid are the people who keep voting for these people, we know the ones who benefitted from them will always vote for them as again the will be benefitted by them. The masses have never benefitted from them & its the masses who should demand these changes. We need more people like you to stand up & be counted. Im an englishman but im married to a filipina & i feel for the filipino people.

  2. Here once again we see that the spoils of plunder;greed; corruption raises its ugly head. .

    .Whilst the matriarch celibates her birthday…Can leave the country and have access to more of the ill gotten gains ….

    how much this family actually plundered ? !

    Here we have one member a Representative in Govt .Another actively engaged in a race to be president..

    None of these Marcos family members, express remorse or regret over behavior of the would be Dictator, Marcos ..

    Yet, here we are again prepared to let this family have another go…How can this be !?

    How can people who are under investigation/or indeed been found guilty -of corruption/fraud /plunder etc etc …Still be allowed to run for/hold high office ..

    Its ludicrous !

    We have gone from being the “Pearl of the orient ” “To being the poor man of Asia” ….

    Its not hard to see why —We allow it —-The law can be flouted openly..Those that do it can laugh at the country on the media ..joke about the so called prison sentences..

    When do we say enough is enough ..
    When do we say that they dont get to live off ill gotten gains .?
    .When do we say ; Regardless of the power and wealth they have –They are not above the law ??

    Until we do something ! “we will get the same old same old “,,,

    Our children Will inherit, a poor system of education.A medical system that caters for the rich ..

    .A govt that is so corrupt ;that it can openly pilfer huge amounts ,,

    I remain yours
    Faithfully
    David M Meyer {PhD psych}

    • Well, if it must be said – to call a spade a spade, how often do people look back then paraphrase such a thought about ‘the spoils of plunder;greed; corruption raises its ugly head’, and not even to look into the present, when the same such actions exist. Just what sort of psychology applies to such a selective thought pray tell us?

      And, since all these loot or recovered jewelries is up for auction, where will the proceeds go to? All these years of hearing the recoveries of ill-gotten wealth from Marcos family, yet no one hears where the proceeds of it go to, not even those who were victims of ‘human rights’. Can you then spot the difference, between Marcos and Aquino? Or, are Filipinos getting more of the same?

    • Dr. Meyer, you are correct, we were the Pearl of the orient until 1986, we became poor man of Asia after 1986 under 2 Aquinos, 1 Ramos, 1 Estrada, 1 Arroyo.