The story revolves around Sophia, an orphan being raised in a convent during the time just before the tulip mania swept across the Dutch Republic in the 17th century. She is presented with a marriage proposal from the much older spice merchant, Cornelis Sandvoort, which allows her to leave the convent, enabling her sisters to migrate to New Amsterdam to reunite with their only living relative, their aunt.
However, after three years of marriage, Sophia finds herself discontent as Cornelis seems solely focused on the desire for an heir, a wish that remains unfulfilled. He is haunted by a past decision involving his first wife, who died after miscarrying their first child. Feeling abandoned by God, Cornelis believes this is his penance for choosing the child over his wife.
In a bid to preserve his memory as a husband of a beautiful young woman, Cornelis hires a painter, Jan van Loos, to capture their likeness. Initially, Sophia agrees, but love unexpectedly blossoms between her and Jan. After exchanging notes and a romantic evening, their relationship deepens.
Amidst this, Maria, Sophia's housemaid friend, is romantically involved with the local fishmonger, Willem Brok, who is thriving in the tulip trade. In pursuit of prosperity to marry Maria, he sells his business. When Sophia borrows Maria’s cloak for her secret meeting with Jan, it leads Willem to mistakenly believe she has been unfaithful. Heartbroken, he seeks solace in a pub, only to be robbed by a prostitute and subsequently conscripted into the Dutch Navy.
Jan harbors plans to escape to the New World with Sophia, encouraged by his own triumphs in the tulip market. When he tries to procure some bulbs from the convent, he is caught by the abbess, Judi Dench, but after apologizing, she unexpectedly gifts him the bulbs.
As complications unfold, Maria discovers her pregnancy resulting from her relationship with Willem. With Willem gone, she fears scandal and threatens to expose Sophia's affair with Jan unless they devise a plan regarding the baby. Thus, they concoct a scheme where Sophia will feign death in childbirth, allowing her to flee with Jan, while Maria would raise the child as her own with Cornelis.
The ruse goes ahead, and after Maria gives birth, Cornelis is devastated to believe he has lost Sophia. Grieving deeply underneath her shroud, Sophia grapples with guilt for her deception, ultimately deciding to abandon her past life. When Jan attempts to locate her, his efforts are in vain.
Following Willem's return from naval duty in Africa, he reconciles with Maria after realizing their love remained intact. Meanwhile, Cornelis learns the troubling truth about the conspiracy involving Sophia, Jan, and Maria. He chooses to find solace in the Dutch East Indies, leaving his household to Maria, Willem, and the child he grew to love.
Years later, the abbess visits Jan, admiring his artwork depicting Sophia. Praising his talent, she commissions him for further work. As he looks down from a scaffold, he is stunned to see Sophia, who has sought refuge in the convent, and they exchange meaningful glances filled with unspoken emotions.
