The episode begins with Blair informing her team that her mother’s plane has landed “45 minutes ago”. She asks her team to “look alive” and wants everything to be perfect after what happened at the cotillion. Blair takes solace in the fact that, her mother will be happy once she sees the dress orders that Waldorf Designs has secured. A little later Blair’s mother arrives. She apparently doesn’t seem in a very good mood. “Back to work” she yells to everyone. Eleanor and Blair then head into her office to have a word in private. Blair tells her about the orders the company has secured. “At the cost of my company’s reputation” Eleanor in turn says.
Eleanor is worried about Blair’s dark scheming and “sexually inappropriate side”. She makes it clear to Blair that, if she wants to keep running her multi-million dollar corporation, “the deviant half has to go”. Blair assures her that there won’t be an issue in the future. Rufus and Ivy are surprised when they find out; barely anyone is coming to Rufus’s art exhibition. Chuck finds out that the envelope Ivy had seen in Bart’s hand was that of “First International Bank of Sudan”. He and Nate conclude that in the envelope might be the financial statements of Bart’s illegal transactions. Chuck also discovers that Bart’s business manager Bruce Kaplan would know something about the contents of the envelope, as he is the one who dropped it off at Bart’s apartment.
Chuck knows Bruce won’t reveal anything to him, but feels Nate who is the head of the Spectator asking business advice from Bruce would probably open the doors. Basically he is hoping that, during his conversation with Nate, Bruce might accidentally let slip, some relevant information. Rufus finds out Lily is hosting a huge art benefit at the very same time his exhibition is and that is the reason why most invitees have excused themselves. Ivy suggests that Lily is trying to sabotage Rufus’s exhibition and he agrees. Ivy then decides to make sure Lily’s event is cancelled. Nate entertains Bruce in his apartment and tries to get some information out of him. He apparently isn’t able to make headway and Bruce leaves. Chuck comes in and asks Nate, as to why he allowed Bruce to leave without getting the information.
In reply Nate shows Chuck Bruce’s cell phone and tells Chuck he knew Bruce wouldn’t give him the information, so he decided to take it anyway. Serena and Dan on the other hand seem to be bonding again. Chuck and Nate find an entry in Bruce’s phone that says “Bart Traffic”. They try to brainstorm as to what it could mean. Chuck suddenly figures out, that the “Traffic” refers to the movie Traffic, in which information was hidden behind a painting. Chuck concludes that, the information they want might be behind one of the paintings in Bart and Lily’s apartment. Eleanor concludes that Blair isn’t ready to head Waldorf Designs and therefore decides to demote her and take back the reins of the company, “effective immediately”.
Lily is shocked to find out that, the benefit has been taken over by Ivy and Rufus and now Rufus’s paintings will be exhibited in the benefit instead. Nate finds out, there is nothing at the back of the paintings in Lily’s apartment. He calls Chuck and tells him about it. Just then Nate sees Serena come in. He lies that he is doing an article about Lily’s art in the Spectator. Nate and Chuck figure out just then that one of the “rainbow” paintings is missing. Turns out, the painting is at Lily’s charity auction. At the venue of the event, Lily tells the organizer she wants to buy back her rainbow painting, and the organizer suggests there be a live auction for the painting. Ivy and Rufus aren’t too happy to hear this.
Then while the painting is being carried away for auction, it is shown that the envelope is concealed in its back. Later, the auction begins for Lily’s painting. Blair tells her mother, she is resigning from Waldorf Designs, as she feels she shall always be a Salieri to her mother’s Mozart. In other words, she feels she will never match up to her mother’s talents no matter how hard she tries. Chuck in the meantime is desperately making his way to the auction, in order to get his hands on Lily’s painting. Ivy and Lily begin bidding on the painting aggressively. Chuck comes in just then and joins the bidding by quoting a really high bid. Lily and Ivy are left dumbfounded at the huge amount that Chuck has quoted for the painting.
Dan and Serena have a fight about all the bad things they have both done in the past. Dan as a result decides to move out of Serena’s house, where he was living temporarily. He and Serena argue all the way into the elevator and while they are in it. Suddenly there is a power outage and they are both stuck in the elevator. The bidding for the painting is still on, with Chuck, Lily and Ivy trying to outdo each other. Eventually though, Rufus and Ivy manage to win the auction. Just then Lily receives a text from Bart saying: “You can’t sell that painting”. Lily as a result goes to Ivy and Rufus and apologizes.
Ivy figures out that Lily wants something from her. Lily says she would love to buy her painting back, now that Ivy has publicly humiliated her and proven her point. Ivy on her part is adamant and does not want to sell the painting back to Lily, for any amount of money. “What is it that you want then?” Lily asks her. Ivy says she wants Lily to feel humiliated and powerless, like she has in the past made them feel. “I think Ivy is right, you brought this on yourself” Rufus tells Lily. Serena and Dan are still stuck in the elevator. The two get talking to each other and make amends. The two then admit that they still like each other. The power comes back on and Serena invites Dan back to the apartment. Dan takes her up on the offer. Chuck has a talk with Ivy and convinces her to sell the painting to him.
She agrees to sell on the condition that he pay, double of what she has paid and he readily agrees. At her apartment, Serena has a heart to heart with Dan. “You can stay” Serena tells Dan, who hasn’t found an alternative accommodation yet. The two end up kissing each other. Blair has a change of heart, and talks to her mother about how she made a mistake when she resigned earlier. She tells Eleanor that her dark side is her talent and it’s reflected in her designs. “I need to stop being you and use my power to form the fashionistas of the future” Blair tells Eleanor. “The girls I dress won’t follow trends, they will set them” Blair adds. Blair begs for one more chance to prove herself. Chuck discovers that the envelope isn’t behind the painting.
Turns out, Ivy has it and she is shown telling someone over the phone while looking though the envelope that “remember the silver bullet we were looking for? I found it”. She then asks the person on phone, to come back as soon as possible. Blair and Eleanor together, begin work on Blair’s new fashion line. The episode ends at this point.