But they had to give it all back, mostly because the robbery victim's son managed to trace the thieves using the GPS on the iPhone that was also taken from his mother, CBS Denver reported.
The suspects in the Nov. 28 holdup in Basalt, on the western slope of the Rockies, were tracked down down more than 65 miles from where the crime took place.
"We've never had anything like this occur here," Sgt. Stewart Curry with the Basalt Police Department said.
According to CBS Denver, police believe it was a burglary gone wrong and the two suspects, Michael Hawkins and James Ward Jr., didn't think anyone would be home. They encountered a 75-year-old woman inside.
"They pulled a gun on her and robbed her," Sgt. Curry said.
Then the iPhone - and the victim's son - went to work.
"We all watched and looked as the dot was moving and they were tracking it and were able to track it to a residence in Parachute," Curry said.
The suspects were arrested at Ward's home in Parachute, Colo. Inside officers found the missing jewelry and the iPhone.
Hawkins has another arrest for burglary out of Glenwood Springs. Investigators said they're looking into a few other burglary cases around the Roaring Fork Valley that could be linked to the suspects.