The beautiful Marya "Mado" Zelli (Isabelle Adjani) is living with her husband Stephan (Anthony Higgins (actor)), a Polish art dealer, in 1927 Paris. When he is convicted of selling stolen artwork, and imprisoned for one year, Marya is left penniless, with no means to support herself. At Stephan's urging, she moves into the apartment of some acquaintances, H.J. Heidler (Alan Bates), a wealthy English art dealer, and his wife Lois (Maggie Smith), a painter. H.J. has a history of inviting vulnerable young women to move into the "spare room" only to seduce them. Lois permits this arrangement because she wants to keep H.J. from leaving her.