The accused, identified as Vaibhav Khurana, is a B.Tech graduate and was working as a supervisor at a hotel in Gurugram, they added.
The stolen Rado watch and a motorcycle used in commission of the crime was recovered from him, officials said.
On July 23, a complainant informed police that an unknown customer had booked a ladies Rado watch worth Rs 90,000, which was available for Rs 67,000 after discount, using a mobile phone.
The complainant, a delivery executive, alleged that when he reached gate no.3 of the Kashmiri Gate Metro Station here to deliver the consignment, he met the alleged customer who then took him on his motorcycle on the pretext of paying him, Deputy Commissioner of Police Nupur Prasad said.
On reaching an apartment in north Delhi's Civil Lines area, the accused tricked him into going up to the door and ringing the doorbell, while he managed to flee from the spot on the motorcycle with the complainant's bag containing the watch, she said.
During investigation, ownership and call record details of the mobile number which was used to book the watch was scanned and the number was found to be registered to Virender Nath.
On interrogating Nath, police found out that he was not using the number anymore. While examining the call detail records, it was learnt that a woman frequently placed calls to the number. On quizzing her, police came to know that the number was being used by her boyfriend Vaibhav, Prasad added.
Subsequently, Vaibhav was arrested. During investigation, the accused disclosed to police that he wanted to give a surprise gift to his girlfriend so he hatched the conspiracy to steal the watch, she said.