Sergeant Matt Lee, of Dunedin, said police last night arrested a 30-year-old man in relation to the theft of a gold chain from the Pascoes last month.
On February 12, two men posed as customers in the store in the Golden Centre Mall and spoke to staff members about purchasing a nine carat, 55cm gold curb link necklace valued at $10,999.
While negotiating a possible price, the men asked the sales associate about viewing a second necklace.
While the staff member was getting the second necklace out, the men grabbed the first necklace and fled the store.
The man arrested is also facing charges of aggravated assault, resisting police and escaping custody after trying to flee from police.
He will appear in court at a later date.