萝拉·蒙蒂斯是19世纪欧洲贵族的宠妓，在马戏团里兜售自己的艳史，这似乎是她为放纵付出的代价。这是奥菲尔的最后一部电影，影片以此作为框架，用闪回拼贴的方式表现箩拉巡回欧洲各国表演记忆，尤其她与巴伐利亚的路德维系国王以及作曲家李斯特之间的关系。

A young couple, Renee and Pierre, take one night a room at the Hotel du Nord, in Paris, near the canal Saint-Martin. They want to die together, but after having shooted at Renee, Pierre lacks of courage and ran away. Another customer, Monsieur Edmond, a procurer, rescues her. When Renee goes out of the hospital, she is hired as a waitress at the hotel. Monsieur Edmond falls in love with her, but Renee is still thinking of Pierre ...