Thursday, November 03, 2005
Imeda Marcos Gems Set for Auction
Those with an interest in fine jewelry are wondering what treasures will be discovered when experts from Christie’s and Sotheby’s head to the Phillipines to assign a value to the jewelry seized by the government from former first lady Imelda Marcos and Demetrio Roumeliotes, a Greek citizen. The government plans to select one of the auction houses to sell the jewelry and are looking at November and May dates. The auction will be held in Geneva. The Philippine Star reports that this is the third time the auction houses have reviewed the pieces but that the last time was in 1994. No details on what the jewelry might fetch have been revealed but it is worth at least $10 million. Given the extravagant tastes of Imelda Marcos, it could be quite amazing and given the level of competition between the two auction houses, the most interesting battles could be occuring behind the scenes.