The heist happened at Wednesday at the Boutique Cartier in the toney Yorkville part of the city when the masked and gloved men barged in and ordered staff and customers to the floor, the Toronto Sun said. One man held a shotgun, the second a handgun, and the third a silver hammer he used to smash glass display cases, police said.

Inspector Scott Baptist said the theft was well organized and over quickly, and the robbers fled and were still at large Thursday. However, they didn't have a keen eye for value, he said.

"We don't exactly understand why, but they obviously aren't too adept at what they're doing because they've stolen a lot of the lower-end jewelry in the store, but they took it and they ran out," Baptist said.

Police are studying video surveillance from the boutique and two nearby subway stations, he said.