Carlos Sainz was the victim to of attempted robbery in Milan after the Italian Grand Prix, Italian media report.
The Ferrari driver was leaving his hotel when the two perpetrators stole the watch Sainz was wearing and tried to escape.
Sainz, his bodyguard and bystanders gave chase before the two were caught and handed into police custody with watch being returned to the Spanish driver.
Sainz was unhurt and returned to his hotel after the incident.
In the Italian GP at Monza, he took third place having started on pole position, but slipping behind Max Verstappen and Sergio Perez, but did take a first podium of the season.
Ferrari declined to comment when asked by RacingNews365 for comment.