To cover the gambling debts of his daughter Kitty Imber, the widowed Lord Theign is planning to sell his beautiful painting Duchess of Waterbridge by Sir Joshua Reynolds to American billionaire Breckenridge Bender. Hugh Crimble, a young art critic, argues against the sale, saying that Britain\'s art treasures should stay in the country. While the controversy in this novel might seem hopelessly remote and trivial, it\'s seemingly similar to the furor that erupted during the 1980s in the United States, when Japanese buyers were snapping up "trophy acquisitions" in America. American newspapers at the time created much the same stink as the British newspapers in James\' book.