The episode opens with Rick at a celebrity charity auction trying to attract bids for the waistcoat of an ex-rock star. To start the bidding, he opens with a bit of £500 but with no takers, he ends up with it. Seeing Michael's father at the auction with a man, he assumes that they are a gay couple and resolves to protect Michael from this revelation.

Meanwhile Magda has had to move out of her flat as the gas boiler is faulty and moves into the Spleen household. It is clear that Michael believes his father's companion is solely a business colleague, however, when he relaunches his cafe as a chic restaurant, with less than complete success, it becomes clear that this is not the case; Rick's suspicions had been correct. The waistcoat bought by Rick turns out to be worth considerably more than he paid for it, but he has given it to his daughter, whose boyfriend has cut it up for a textiles project at college.