Necklaces over 200,000 euros and earrings of 80,000 euros: the value of Zapatero's jewels

Barcelona / MadridZapatero's jewels have been making headlines for days and, since this Friday, they are the subject of a new separate piece in the Plus Ultra case at the National Court. Judge José Luis Calama has agreed to also investigate the former Spanish president for the possession of these valuable objects because he considers that there are indications of alleged tax and smuggling offenses.there are indications of alleged tax and smuggling offenses. The basis for his decision is the preliminary appraisal of the jewels – located in the office of the former PSOE leader – which have been valued at 1,323,915 euros. The appraisal report, to which ARA has had access, analyzes the estimated market price (including taxes) of up to 79 pieces of jewelry, among which necklaces worth more than 220,000 euros and earrings worth 80,000 euros stand out.

The appraisal of the pieces, commissioned by the judge himself and carried out between June 8 and 9 by the Ansorena jewelry store in Madrid, has as its most expensive item an 18-carat white gold necklace, with diamonds and of Zambian origin, which the appraisers value at 278,000 euros. It is followed by two similar necklaces, one of Thai origin and the other with rubies, which are valued at 220,000 and 155,000 euros, respectively. Among the most expensive items are also a ruby bracelet for 95,000 euros, an emerald ring for 85,000 euros, and earrings also decorated with emeralds for 80,000 euros. All three items made of white gold and of Zambian origin.

Other analyzed jewels, of lesser value, but still high, include a bracelet with Dutch diamonds valued at 11,000 euros, watches between 150 and 6,000 euros, and more necklaces between 400 and 4,000 euros. However, there is also a dozen pearl necklaces, earrings, and even cufflinks with no value, most described as "imitation." The lowest value item is a 25 euro silver ring.

The value of the jewels had been unknown until this Thursday, when the report became public. In fact, Zapatero's spokesperson, Luis Arroyo, had even stated that they cost between 30,000 and 50,000 euros, a price much lower than what Ansorena's appraisal has concluded. Arroyo, in fact, apologized for his statements this Friday. Be that as it may, the high value of the objects seized by the police, as well as the lack of fiscal traceability regarding their acquisition, lead the judge to believe that there could have been a "relevant tax fraud" or even the introduction of the jewels into the European Union "evading controls and mandatory fiscal obligations," and this would constitute a crime of smuggling.

The explanation given so far by Zapatero, through his spokesperson, is that the jewels correspond to family inheritances from the mothers of the former president and his wife, Sonsoles Espinosa, and to "gifts." He justified that they were found in a safe in the former president's office because the socialist leader and his family have temporarily moved to a rental apartment while they are building a house on a plot of land they purchased. An acquisition, Arroyo said days ago, which would explain the rapid cancellation of a mortgage that the UDEF (Economic and Fiscal Crime Unit of the National Police) has also put under scrutiny. "It is not said that the cancellation is because the house was sold," said Zapatero's spokesperson in an interview on El matí de Catalunya Ràdio in late May. The former president will have to provide the details on June 17 and 18 before the judge at the National Courton June 17 and 18 before the judge at the National Court.