A mysterious Brazilian banker gets involved in a plot over a priceless Inca ring. Lovejoy is introduced to Lady Jane's old school friend.

An artist is out for revenge when Lovejoy apparently mistakes some fake watercolours for the real thing.

Deeply in love, Lovejoy is persuaded to go sailing. Meanwhile, Eric gets involved with an Irish rock band, played by the Hothouse Flowers, and Tinker is reunited with an old friend.