Andy Dick is out on $25,000 bail Saturday following his arrest on suspicion of grand theft Friday. The actor and comedian was reportedly riding a bicycle when stopped near a man and asked to look at his necklace.

The man relinquished the necklace, worth $1,000, to Dick, at which point Dick allegedly rode off with it. The man reported the crime to police and Dick was arrested Friday in downtown Hollywood at 11:10 p.m. Friday night.

Dick was released at 5:20 a.m. Saturday morning after posting bail. He is to appear in court Dec. 4, and he has not commented on the incident.

Dick has a storied history of drug and alcohol abuse, having been arrested before for unruly behavior. He has spoken publicly about his issues on "Celebrity Rehab With Dr. Drew" and "Dancing With The Stars."

It's unclear if any substances were involved in the incident. If convicted, Dick would face a possible three years in prison.