The watch was stolen from the Porsche Design Store on Madison Avenue at around 4:30 p.m. Wednesday.
Police say the female suspect distracted store employee while the man took the watch from the display case and concealed it.
Both suspects then left the location.
No injuries were incurred as a result of this incident.
The female suspect was last seen wearing a gray sweater and dark pants.
The man was wearing a white hooded sweatshirt and dark jeans.
Anyone with information in regards to this grand larceny is asked to call Crime Stoppers at 1-800-577-TIPS (8477).