Authorities have been informed that a residence on Gordon Street in Toorak was unoccupied from August 26 to October 13.
During this period, investigators suspect that two unidentified men accessed the property multiple times.
Among the items taken were several bespoke jewelry pieces, with a collective worth estimated at $75,000.
Surveillance footage captured the men entering the premises on October 3.
On that particular day, police believe they also made off with a 2018 black Volvo wagon, later found in South Melbourne on October 8.
The intruders are thought to have gained entry by breaking a window, which sustained damage in the process.
Police have released images of two men they believe could help with enquiries.
The first man is described as Caucasian in appearance, with a medium build, aged 30 to 40, with dark short hair, which was thinning toward the back of his head.
He was wearing a yellow high-vis vest.
The second man is described as Caucasian in appearance, with a medium build, aged about 20 to 30.
He was wearing an orange and blue high-vis long-sleeve shirt and a backwards red cap.
