PHOENIX -- The 61-year-old owner of a Phoenix jewelry store shot and wounded two would-be robbers who walked into the business and pepper sprayed him in the face, police said.

The men entered the store near 32nd Street and Bell Road Monday afternoon and attempted to sell a watch, said Detective Cindy Scott of the Phoenix Police Department.

The owner said he could not purchase the watch and both men left the store, Scott said.

"About ten minutes later, the suspects returned and pepper sprayed the victim in the face," Scott said.

One of the men then removed a metal baton and began to smash the glass to the jewelry display cabinet, Scott said.

"Fearing for his life, the victim removed a handgun from his pocket and fired several rounds at the suspects, striking them each of them one time," Scott said. The victim then held the suspects at gunpoint until officers arrived.

The men were taken to local hospitals where they were treated for their non-life-threatening injuries.

The suspects are identified as Gregory Mills, 24, and Jason Buckingham, 27.

The victim acted in self-defense and is not currently being charged with a crime, Scott said. However, the case will be reviewed by the county attorney's office.

Both men were rushed to the hospital in serious condition.

The owner was treated for pepper spray exposure and is expected to be OK, police said.