It happened to my aunt - they took a diamond ring worth as much as a mint RS500 (it used to be my grans). They said 'you can't be wearing that here in Spain - give it to me' and he put it in the glove box, same as the rest of the cash, cards etc... The 'police' went on their merry way, leaving my aunt to drive on. After a while, she decided to check the glove box - and indeed, there was no ring or money there.

My aunt works in insurance - and of course she had failed to insure her stuff while on holidy.

Moral of the story - take out insurance when on holiday.