The marriage between Jim and Esther Hamilton (Owen Moore and Dorothy Christy) spirals downhill rapidly when Esther purchases a sable coat for herself. Hoping to live up to her expensive accessory, Esther begins imagining herself a glamorpuss and soon is keeping company with caddish Morrell (Jameson Thomas). Jim brings his wife's galavanting to an abrupt end by committing suicide. All of this is related by the sadder-but-wiser Esther as an object lesson for young Alice Kendall (June Collyer), who out of love for her sweetheart Fred Garlan (Lloyd Hughes) returns the fur coat that she's bought on impulse. The only thing "extravagant" about this pinchpenny Tiffany Studios production is its title.