Gillespie, a multi-millionaire, has Harry Gregg, a penniless young painter, come to his home to do a portrait of his daughter, Maisie. The result is that Maisie and the painter fell in love. Harry bravely asks the father for her hand and old Gillespie promptly orders him out of the house forever. Harry goes home and decides to auction off his studio effects and pictures and leave the city. That night two thieves break into the millionaire's home and steal the Gillespie diamond necklace, a very valuable heirloom. The alarm is given and one of the thieves, thinking he is to be caught, slips the necklace between the frame and canvas of Maisie's portrait. Both thieves, however, escape. The next morning Gillespie, in an extra fit of anger over his misfortunes, orders Masie's picture to be returned to Gregg at once. Confederates of the thieves see the removal of the picture to Harry's studio. The two thieves have had a fight over the affair and each one sets out separately to the studio to get the picture. When they arrive the auction is on and poor Harry's first picture has just been knocked down for one dollar and ninety cents. Harry has left the room in despair. The auctioneer next puts up Maisie's portrait and the two thieves begin to bid against each other. When the bidding reaches four and five hundred dollars the public present begins to sit up and take notice. Bidding becomes general and soon the room is crowded to the doors with people wildly bidding for the picture. The portrait is knocked down to one of the thieves. Harry comes in and finds out that Maisie's portrait has been sold. He tells the auctioneer that it was not for sale and starts out after the purchaser. Meanwhile the high bidding started by the two thieves has "caught on" and people are wildly bidding on the next picture. Harry meets the thief in the hall and asks for the picture to be returned, saying that its sale was a mistake. The thief argues a moment, then seeing that Harry is deadly in earnest, he starts to run. Harry runs after him. They grapple over the picture. A fight ensues. The other thief, angry at his accomplice for getting away with the picture, telephones Gillespie that the necklace was in his daughter's portrait. Gillespie and Maisie get in an automobile and start for the studio. They arrive in an awful jam of people. Gillespie makes his way to the auctioneer and learns that the picture has been sold. He tells Maisie, adding that that is the kind of a lover he was, selling her portrait to the first buyer. Maisie is heartbroken. Just then a shot is heard. Everyone runs out. They find Harry lying in a pool of blood in the basement, but with Maisie's portrait in his arms. Explanations are made, the necklace is recovered, and Gillespie and Maisie help Harry to his feet. Just then the auctioneer comes up with a hat full of money received from the auction, which, except for the thieves, would have been a dismal failure. The money has a proper effect on father's feelings, and he gives Maisie and Harry his blessing.