President Rodrigo Duterte has given the go-signal for the public auction of the P704.8 million jewelry collections which the government confiscated from the family of late dictator Ferdinand Marcos.

Presidential Spokesperson Salvador Panelo told reporters in Japan Duterte wants the Filipinos to benefit from proceeds of the sale of the pieces of the Marcos jewelry now kept at the Bangko Sentral ng Pilipinas.

"So I asked him (Duterte), 'Are you going to give the go signal' he said, 'Yes'. For as long as the sales, the proceeds reach the people," Panelo said.

The Commission on Audit earlier said that Duterte only needs to approve the auction of the Marcos collections composed of the Malacanang Collection, Roumeliotes Collection, and Hawaii Collection.

They were seized shortly after the downfall of the Marcos dictatorship in 1986. Celerina Monte/DMS