A tough-talking business man hires Lovejoy to recover a sixteenth-century samurai sword which has been stolen from him. Another dealer, Lovejoy's mentor Jim Leonard, buys the sword at an auction, but it is promptly stolen from him by Joanna, the daughter of the original owner. Lovejoy stays on the trail.
Lovejoy meets distant cousins from America, who are visiting England.
As well as a female ghost, old Lord Wakering has treasures which once belonged to Sir Walter Raleigh, and both Lovejoy and Mary-John Lovejoy, his American cousin, want them. Some of Lord Wakering's things are stolen, and Lovejoy travels in hot pursuit to the Carolinas, where he is not made welcome. Charlotte has to fly over to get him out of trouble.
Lovejoy has been left to look after Felsham Hall until it has been sold, and he uses the house as a furniture showroom. He thus crosses swords with the beautiful Charlotte Cavendish, who is the auctioneer selling the Hall. At the auction, Charlie Gimbert buys the property, and Lovejoy agrees with him to rent the stables for Lovejoy Antiques.