Barney is a contestant on a TV game show, The Prize is Priced (a takeoff on The Price is Right). He wins a houseboat (winning bid: "Two cents"), and everyone goes on a disastrous cruise where a sea serpent takes the roast and pulls the boat way off shore; the boat drifts off, hits a rock, and finally sinks.

Wilma intends to donate Fred's old clothes to a rummage sale, but puts the box in Barney's car, leading Fred to believe that Barney stole his clothes and is a kleptomaniac.

After watching an Italian movie on TV, Wilma convinces Fred to adopt a "Latin lover" image. She soon becomes (erroneously) convinced that other women are after Fred because of his suave image, however, and convinces him to go back to being the same old Fred.