An important exhibit is stolen from the Royal Museum of Arts. Fux, its watchman and a gambler, was seduced by a mafia boss, also Chief of the Yacht Club, to steal the statue of Venus. The time of the theft was linked to an international regatta so that Fux could remove the stolen goods" out of the country.
The Soviet naval school teacher and former sea captain Vrungel, receives a telegram asking him to participate in the regatta. He and his pupil Lom decide to set sail for the starting port, although by one of the many freak accidents that occur during the adventure, their ship's name is changed from "Pobeda" to "beda," (which, when translated, is a change from "Victory" to "Trouble". In the English translation of the book the wordplay is "Courage" and "Rage"). Throughout almost the entire journey, Vrungel and Lom have no idea about the hidden purpose of the regatta.