Antonio, an unemployed man in the depressed post-WWII economy of Italy, at last finds a good job hanging up posters, the only requirement for which is that he must have his own bicycle. When Antonio’s bicycle is stolen, he and his son are forced to walk the streets of Rome in search of it, or else face ruin.

Has-been director Harry Dawes gets a new lease on his career when independently wealthy Kirk Edwards hires him to write and direct a film. They go to Madrid to find Maria Vargas, a dancer who will star in the film. Millionaire Alberto Bravano takes Maria from Kirk. Count Vincenzo Torlato-Favrini takes Maria from Alberto.