The incident, which police have called the robbery of the century, involved the theft of more than 1,700 watches worth $33 million.
The 17 detainees all allegedly played a role in the theft.
Some are the thieves, others middlemen and some also received stolen merchandise, The Local.es reported.
Police said they have recovered 300 of the stolen watches so far.
Interpol is monitoring the black market in an effort to find more of them.
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