Robert Darke, 43, and Ivan Edwards, 38, were what County Court judge Marilyn Harbison called “misguided vigilantes” when they went to the Wodonga home on January 10.

The missing bracelet was not there, so they took cash instead after forcing the victim to empty his wallet.

The pair pleaded guilty to armed robbery when appearing in court this week.

Kerry Ann Oats told a committal hearing in June she was determined to return a ring to its rightful owner when she found out it had been stolen.

But she did not return the bracelet which was also in the box.

When Darke, Edwards and two women arrived at her home to collect, they found Ms Oats’ male friend instead.

Darke wore a black hooded jumper and mask, and produced a large knife before demanding the bracelet.

His distinctive neck tattoos still gave away his identity.

The four intruders were captured on CCTV footage later that day drinking alcohol shouted by Darke at Elgin's in Wodonga.

Darke’s barrister Diana Price said her client had a lot of respect for the bracelet owner and armed himself with a knife because he did not know what to expect at the house.

“He himself felt ‘I’ve got an obligation to retrieve this item’,” she said.

“He should have left the issue for police to resolve and not taken things into his own hands … he overreacts to situations.”

Darke, who has been treated for drug addiction while in custody on remand, will be sentenced this week.

Judge Harbison deferred Edwards’ sentence for six months so he could also continue drug treatment and mental health counselling.

“It’s serious offending and it’s offending for which a jail sentence is warranted,” she said.

Barrister Michael Kats said Edwards only intended to retrieve the bracelet.

“The taking of the money was a spur of the moment, last-minute decision as everyone was leaving,” he said. “When the money is taken, the only benefit he got out of it was a couple of drinks shouted.”