The Philippine government has announced on Friday approving the public exhibition and auction of the jewelry collection of late Dictator Ferdinand Marcos' wife Imelda. International experts have appraised the collection now to be worth at least ₱1 billion ($21 million). The appraisal has reportedly been conducted in a conservative manner.

The hoard has been seized from Hawaii in 1986 when Marcos and his family fled there after a revolt that ended the power regime enduring two decades. The announcement has been made by the officials of the Presidential Commission on Good Government (PCGG). However, the approval has been rendered by the Privatization Commission headed by the Department of Finance (DOF), reports The Guardian.

Appraisal of the jewelry collection has been conducted by Christie's and Sotheby's in November 2015. The collection has originally been estimated to be valued $5 million to $8 million or ₱376 million in maximum. But PCGG claims that value of the items has been increased significantly, reports GMA News.

PCGG has been assigned to recover Marcos' ill gotten wealth. The commission expects to conduct exhibition and auction before departure of existing Presiident Benigno Aquino III's term in June, reports Honolulu Star-Advertiser quoting Andrew de Castro, its Chairman.

However, a portion of the collection, seized from the presidential palace after Marcos' flee, is being contested in the court. Other pieces of jewelry have been confiscated from Hawaii and Manila airport.