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The poor student Balduin sells his mirror image to the satanic sorcerer Scapinelli. He falls in love with a countess and tries to win her over. But his mirror image receives a life of its' own and sabotages Balduin's every move.

Balduin, a student of Prague, leaves his roystering companions in the beer garden, when he finds he has reached the end of his resources. He is scarcely seated in a quiet corner when a hideous, shriveled-up old man taps him upon the shoulder and whispers vaguely of a big inheritance for Prague's finest swordsman and wildest student if he will enter into a certain agreement. Balduin rebuffs him, satirically asking his weird companion to procure him "the luckiest ticket in a lottery or a doweried wife." The old man goes off chuckling and thence onward persistently shadows Balduin, exerting a sinister influence over him, while Balduin is still disconsolate under the frowns of fortune. The Countess Margit Schwarzenberg, hunting with her cousin, to whom her father has betrothed her, meets with an accident. She is thrown over her horse's head into a river, but Balduin, who has been directed to the spot by his evil genius, plunges in and rescues her. Subsequently Balduin calls to inquire as to her condition at the castle of her father, the count, but be makes a hurried departure when Baron Waldis arrives, the contrast in their appearance discrediting him. His desire to win the countess and to humiliate the baron becomes so pronounced that he readily accedes to the compact suggested by Scapinelli, the old man, who has so pertinaciously dogged his footsteps, particularly when he learns that untold wealth and power will be his when he assigns to the other the right to take from his room whatever he chooses for his own use as he desires. The agreement is signed. Balduin receives a shower of gold and notes as his portion; Scapinelli takes Balduin's soul exposed in concrete form by his shadow. Balduin prosecutes his love affair assiduously and with apparent success, till the baron is informed of it by a jealous gypsy girl. He challenges Balduin to a duel, and the latter, assured of his superiority as a fencer, readily agrees. Count Schwarzenberg learns of the impending duel and appeals to Balduin not to kill "my sister's child, my daughter's future husband, and my heir." Balduin gives his promise, but when he goes to the venue of the duel he meets, his own counterpart stalking away derisively wiping his gory sword on his cloak. Balduin turns and in the far distance sees the dying victim of the deed he swore he would not do. He rushes from the spot horror-stricken. When he regains sufficient composure he makes his way to the castle of the count, but is refused admission. Determined to explain that he had no complicity in the death of the baron, Balduin climbs into a room in which the countess is seated. She receives him coldly, but soon succumbs to his ardent wooing. Just as he seeks to leave her she notices he has no shadow and that the mirror gives no reflection of him; and she drops back affrighted, the ghastly apparition of himself which takes shape in the corner of the room sends Balduin scuttling away from the castle in a paroxysm of terror. He makes a frenzied flight through a woodland estate and the streets of Prague, but wherever he stops to recover his breath he is haunted by the counterpart of himself. He reaches his rooms and draws a murderous looking fire-arm from its case. As the phantasmagorical figure strides towards him with a sinister grin, he fires, and in a few minutes the blood gushes from his own side from a fatal wound.—Moving Picture World synopsis

A poor student rescues a beautiful countess and soon becomes obsessed with her. A sorcerer makes a deal with the young man to give him fabulous wealth and anything he wants, if he will sign his name to a contract. The student hurriedly signs the contract, but doesn't know what he's in for.—frankfob2@yahoo.com

Being praised as the finest fencer in his University is not enough for Balduin (Paul Wegener). As everyone around him at the University praises him for his accomplishments as a swordsmen and celebrates him, Balduin plants himself on a bench where he can be alone. Scapinelli (John Gottowt) quickly pulls up on his carriage and notices Balduin pouting by himself as the rest of the student body is celebrating and dancing. He sees his opportunity to take advantage of Balduin for his own gain. Scapinelli starts pitching his idea to Balduin. While in negotiations, a mysterious wandering girl (Lyda Salmonova), a lower class women, watches, as Balduin and Scapinelli discuss ways to better Balduin's life. After being very easily convinced, Balduin leads Scapanelli to his home. As they are walking down a road, a young lady, the countess (Grete Berger), gets into an accident. Balduin sees his opportunity to rescue her. He quickly dives into a pond, where she was dumped by an out of control horse, grabs the stunned young lady, and brings her to the shallow. Since he rescues her, she makes him a promise to meet with him again. As soon as the men reach Balduins home, the negotiations begin. Scapanelli pulls a contract out from his coat. The contract states that in return for love and gold Scapanelli may take any one item from Balduins home. To help Balduin make up his mind, Scapanelli pulls out a never-ending bag of gold. The gold flows at an alarming rate out of Scapinellis sleeve, which, much to the amazement of Balduin helps to seal the deal. Agreeing to the seemingly beneficial terms, Balduin signs the contract. Scapinelli immediately goes for what he wants. He walks over to the mirror tat is hanging on the wall, touches up and down the side of the mirror, stunning Balduin, as Scapanelli removes his reflection from the mirror, essentially taking Balduins soul. Despite fearing he has made a big mistake, Balduin makes the best of his newfound wealth. He goes to the local club, drinks, dances, and is courted by women all around him. Balduin is soon called on by the count (Lothar Korner) to have him come to the counts abode. Balduin has a conversation with the countess when he arrives, unknowing that he is being watched by the a wandering girl. As they are talking, the wandering girl has climbed up to the balcony and watches them from behind the pillars and banisters so she can stay hidden. After they both leave, the wandering girl grabs a piece of evidence that Balduin has carelessly left behind. Balduin soon finds himself falling for the countess and attempts to arrange another meeting with her. Balduin is soon faced with the reality of his agreement with Scapinelli, when his double, which looks just like he does, stalks him and interferes with his attempts to impress the countess. As he and the countess, forced to meet in private, are meeting again a graveyard, Balduins double make his presence known. Seeing a double of Balduin frightens the countess and she runs away. Haunted by his own reflection, Balduin struggles to lead a normal life. The wandering girl soon brings to the attention of the counts uncle, Baron Waldis-Schwarzenbrg (Fritz Weidemann), that the countess and Balduin have been meeting in private. She brings the note that she found after Balduin and the countess had met on the balcony and shows him. Angered by this, the count challenges Balduin to a duel. Hearing the rumors of how good Balduin is at sword fighting, he is asked by the Baron to please not kill the count. Balduin agrees not to kill him but his double does not. The next morning, on his way to the duel, he comes in contact with his double again. Noticing the swagger behind the doubles appearance and the cleaning of his sword, Balduin soon realizes that his double killed the count. Completely mortified by this, Balduin runs away and buries himself in bottles of alcohol and his money at the same club he was at before. This time instead of him celebrating his new life, he is watching as the wandering girl and everyone else around him enjoys their night. Realizing he isnt going to get the countess being depressed in the club, Balduin heads to her house. He gets to the outer gate of her house, because there is no way to get through the gate, Balduin is forced to climb over the fence. When he finally makes it over, Balduin is faced with another obstacle; the countess room is not on ground level. Finding a ladder nearby, Balduin scales the wall. He makes it to her balcony and sees her in her room. His plan works and the countess kisses him passionately until the double reappears through the window. Balduin finally loses it and runs all over town, outside of the countess house, up the road, finally to his new home. When he gets into his house he frantically searches for something, finally coming across a gun in one of his drawers. In a desperate attempt to rid himself of this nightmare he pulls the gun out and shoots his reflection. Rejoicing in this victory doesnt last long as Balduin soon realizes he has shot himself. Scapinelli enters and finds Balduin laying dead on the ground. He then begins to dance around and celebrate his conquest over Balduin. He grabs the contract that Balduin had signed earlier rips it up and throws it into the air, smirks, and continues his celebration out the door.