Hundreds of thousands of dollars in high-end jewellery, handbags and shoes have been stolen from a Double Bay luxury store in a smash-and-grab ram raid after thieves used a stolen car to smash open the shopfront.

PH Luxury Consignment in Transvaal Avenue was robbed at 4.30am on Thursday after the two thieves repeatedly backed a Volkswagen into the store before emerging from the vehicle and ransacking the shop.

Footage captured by nearby security cameras show the ram raid unfold before the crew flee the scene in a black Audi getaway car, which had been stolen from Bondi 24 hours earlier.

Most of Transvaal Avenue was closed on Thursday morning as police inspected the store and vehicle.…