The two suspects held up an elderly couple before fleeing with eight works of "incalculable" value.
Eight engravings by the famous French artist Matisse have been stolen from a library in Brazil.
Two thieves held up a security guard and an elderly couple at the Biblioteca Mário de Andrade in the city of Sau Paulo before running away with the artworks on Sunday, the BBC reports.
They also stole at least five works by Brazilian painter Candido Portinar.
READ MORE: Four more arrested over $157 million Louvre jewel heist
Brazilian authorities said the thieves fled through the library's front entrance and headed towards a rail station.
Local media outlets released a video which appeared to show the suspects running along a nearby street while holding a sack of the loot.
One of the suspects was arrested on Monday hours after police found the "escape vehicle".
The Sao Paulo government in a statement on X said the first alleged thief had been arrested following "analysis of security cameras that recorded the criminal act".
The city of more than 11 million people has an extensive security camera system.
READ MORE: Ex-nurse convicted of murdering Toyah Cordingley
Henri Matisse, an exponent of Modernist style painting, is regarded as one of the most influential artists of the late 19th and 20th centuries.
Art experts described the value of the stolen works as "incalculable".
Portinari, known for painting rural life, is a major Brazilian Modernist artist.
The theft comes less than eight weeks after the brazen heist at the Louvre museum in Paris, where thieves stole priceless jewels.
DOWNLOAD THE 9NEWS APP: Stay across all the latest in breaking news, sport, politics and the weather via our news app and get notifications sent straight to your smartphone. Available on the Apple App Store and Google Play.

