Jerry receives some old possessions of his grandfather. Among them are a hat that reminds Kramer of Joe Friday of Dragnet, so he takes it. The next object Jerry takes out of the box is a statue that looks just like one George's family had, until George broke it. Jerry promises that George can have it, but leaves it in his apartment for a few days. Jerry later has his apartment cleaned by the boyfriend ("Ray") of Elaine's client ("Rava") and is very impressed by the quality of the cleaning.
Jerry and Elaine go to Ray's apartment, where Jerry sees the statue. He calls Kramer to see whether or not it is missing from his apartment. It is, and the group believes that Ray stole it. Kramer urges to do something about it, but Elaine argues against this, afraid that Rava will no longer let her edit her book. Elaine and Rava do get into an argument, which results in her being removed from editing Rava's book.
Kramer chooses to go to Ray's apartment, dressed as Joe Friday, and pretends to be, as he said, "a cop, a good cop, a DAMN GOOD COP!!" Ray falls for it, and Kramer retrieves the statue from the apartment. Kramer returns the statue to a grateful George, but George winds up dropping it when Kramer gives him a friendly slap on the back.