Down on his luck, veteran movie director and writer Harry Dawes (Humphrey Bogart) is reduced to working for abusive, emotionally-stunted business tycoon Kirk Edwards (Warren Stevens), who decides he wants to produce a film to stroke his already monumental ego. Looking for a fresh new leading lady for the movie, Harry discovers stunning Spanish dancer Maria Vargas (Ava Gardner), who knows what she wants and what she has to do to get it. She sells herself to Kirk in return for a chance at stardom.

With Harry's expertise and the help of sweaty, insincere publicist Oscar Muldoon (Edmond O'Brien), her debut is a sensation. Feeling threatened by Maria's success, Kirk tries to reassert control by publicly ordering her to stay away from rich playboy Alberto Bravano (Marius Goring), but Maria rebels. Her injured pride compels her to leave Kirk for Alberto.

Within a short time, Maria is a great star, but she is not satisfied. She sees the happiness her good friend Harry has found with Jerry (Elizabeth Sellars) and is envious. Alberto is too frivolous and shallow for her and he senses it. When he berates her in public for supposedly bringing him bad luck at the gambling table, he receives a slap in the face from a complete stranger, Count Vincenzo Torlato-Favrini (Rossano Brazzi). The count then offers Maria his arm, she accepts, and they walk out.

Maria has found the great love of her life, and they marry. But there is a problem. Her husband and a spinster sister are the last of the Torlato-Favrinis; without offspring, his noble line will be ended. Unfortunately, he is incapable of fathering a child because of an old war wound that left him impotent. After an unhappy honeymoon, Maria comes up with a bizarre solution: taking a lover to become pregnant. Ignoring Harry's strong warning, she decides to tell the count that she is with child, thinking that her spouse will approve. However, before she can break the news to him, he kills Maria and her lover, and the film ends (as it begins) with her funeral.

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