The story opens in the sumptuous Turkish Baths of an English winter resort in Hampshire, where various fashionable ladies congregate to discuss their ailments and society gossip. Among them is Mrs Ray Jefferson, a wealthy American, whose sharp observations are interrupted by the arrival of the Princess Zairoff. The princess possesses a rare, striking beauty and a mind deeply versed in Eastern philosophy, occultism, and theosophy, instantly setting her apart from the mundane crowd. Soon after, Colonel Estcourt, a British officer recently returned from India, recognizes the princess as a woman from his past whom he had loved deeply during their youth in the East.
Their reunion rekindles a powerful romance, though the princess harbors a dark premonition that their union is doomed by past karma and tragic events from her marriage to a cruel Russian prince. Despite her warnings, Estcourt clings to her with fierce passion, determined to make her his wife. As the narrative develops, the princess begins to exhibit extraordinary psychic abilities, entering deep trances and revealing hidden truths about human responsibility, reincarnation, and the illusion of worldly desires.
During a private gathering in her rooms, she uses her clairvoyant power to reveal a deeply buried tragedy from her past in Russia, where she exercised lethal willpower to execute a corrupt tyrant and protect innocent lives. The revelation overwhelms Estcourt, who collapses under the psychological strain. Burdened by the weight of her secret past and the knowledge that her human love for Estcourt has compromised her spiritual detachment, the princess seeks expiation. Ultimately, she retreats to the Turkish Baths, where she chooses to leave her physical body behind during a deep trance, peacefully passing away while seeking redemption in the mysterious realm beyond.