Police said Robert’s Jewellers was targeted by up to three individuals in the early hours of Friday, November 29.
Later that morning, owner Paul Roberts arrived at 44 Bank St, Cobram, to find his store surrounded by officers and detectives from the Cobram and Wangaratta police units.
Mr Roberts said he found the majority of his glass display cabinets were smashed. Shards of glass carpeted the floor and much of his stock was missing.
Roberts estimated the value of the stolen items to be at least $120,000.
“I was shell-shocked from it,” Mr Roberts said.
“I still can’t believe it. It hasn’t really sunk in yet.”
He said the stolen items consisted of at least 100 pairs of nine-carat gold earrings, many silver pieces, a few Adina watches, and the store’s entire Ellani collection.
Mr Roberts emphasised that while much of his retail stock was missing, all of his clients’ repairs were securely locked away and untouched by the thieves.
Officers from Cobram police and criminal investigation unit canvassed the area and have identified a number of vehicles of interest.
Investigations are continuing.
Police are looking into any outlets for the stolen goods, including second-hand dealers and possible places of disposal.
Anyone who has information or was in the area between 1am and 2am on November 29 is asked to contact Cobram CIU on 5871 2866 or Crimestoppers on 1800 333 000.