The action takes place in Lwów (L'viv) on the eve of World War II. A former White Army officer (Vladimir Mashkov) after the defeat of the Whites in the civil war in Russia emigrated to Poland (Lwów was a Polish city at that time). The chief dream of his was to buy Alaska from the USA and to return it back to Russia.

Alyaska, ser!

A wealthy American businessman, Mr. Clarke, forces his dissolute but charming nephew James to go with him to Russia, where he buys a Faberge watch that belonged to Nicholas II himself. He is received by Mr. Borsch, who dreams of becoming a minister by signing a lucrative contract. A representative of a Japanese company, nicknamed the Samurai during the auction, is hunting for the same watch. Borshch's wife also "laid eyes" on an antique watch, and a talented thief leaves the prison. All the participants of the future adventures met at the restaurant, where James met the beautiful niece of Borsch's wife. Mr. Clark flies to Namibia, instructing his nephew to put the watch in the hotel safe. Naturally, on the same evening, the watch is stolen...