In the criminal and violent world of modern-day Gypsies based in New York City, their 'king' Zharko Stepanowicz passes his leadership to his unwilling grandson, leaving the skipped father resentful.
Eric Roberts makes an impressive screen debut as Dave, grandson of the aging King Zharko, who is chosen by him to lead the gypsy clan at his death. Dave's only inclination is to join the American mainstream, but he knows that the mantle of gypsy power cannot be taken lightly or denied.—Anonymous
King of the gypsies, Zharko Stepanowicz (Sterling Hayden), visits the camp of fellow gypsy Spiro (Michael V. Gazzo) and demands the marriage of Spiro's daughter, Rose (Susan Sarnadon), to his son, Groffo (Judd Hirsch), a union for which Zharko paid $4,500. Spiro explains that Rose refuses the marriage because she does not like Groffo, but offers to refund half of the bride price to compensate Zharko for the inconvenience. Zharko finds the offer unacceptable, so the two men take the matter to the gypsy elders. When the elders rule in favor of Spiro, Zharko agrees to leave, but on the way out of the camp, he grabs Rose and drives away with her. Later, Rose is pleased when she gives birth to Groffo's son, David, since he will one day be king of the gypsies.
As a boy, Dave (Corey Einbinder) helps his family with various confidence games to earn money as they roam from state to state, but by the time they settle in New York City and his sister Tita (Brooke Shields) is born, he knows he does not want to live as a gypsy. As alcoholic Groffo physically abuses Dave, Rose and Tita, Dave's resentment against his father grows. When Zharko praises the 12-year-old Dave for his intelligence and offers to arrange a marriage with a gypsy girl named Persa, the boy runs away.
Skipping forward several years later an adult, Dave (Eric Roberts) continues to commit acts of fraud and petty larceny until his grandfather approaches him. Believing Groffo is unfit to become king, Zharko offers his ring and medallion, the symbols of the kingship, to Dave. Recoiling, Dave explains he doesn't want to lead the gypsies; he wants to live the "normal" life everyone else has. Zharko says that he is dying, so the gypsies will soon need a new leader and he is counting on Dave to assume power. Agreeing to go back to the gypsies, Dave returns to his parents' home to warn his father against beating Rose and Tita. Groffo berates Dave for renouncing the family's ways in order to act like the despised "gadjos", or non-gypsies. When Dave rejects Groffo as his father, the two men fight until Groffo pulls a gun and Dave escapes out of the apartment window.
Some time later, Dave is working as a singing waiter and dates a gadjo, named Sharon (Annette O'Toole), with whom he has dreams of moving to California. The two head back to his apartment one night to find Rose and Tita waiting for him. Explaining that Groffo has accepted $6,000 to wed Tita to a boy she doesn't like, Rose asks Dave for the money to repay the bride price to get his sister out of the arranged marriage. Dave refuses. While leaving, Rose informs Dave that Zharko is dying in the hospital and asking for him.
The next day, Dave goes to the hospital and runs into Persa (Annie Potts), who invites him back to her apartment so Rose can have a private conversation with him. Dave proceeds to his grandfather's bedside where Zharko bestows him with the king's ring and medallion before passing away. Dave announces that he has been made king to Groffo, who is so hurt and betrayed that he refuses to take them.
That night, Dave visits Persa to talk to his mother and Rose informs him that Groffo will wed Tita to her groom right after Zharko's funeral. Rose proclaims that Dave is the king whether he wants the role or not and he is shirking his duties by refusing to help his family avoid the unwanted marriage. Dave refuses to accept the responsibility and leaves. On the way home, two thugs chase and attack Dave, but he escapes them and returns home to find Sharon cooking dinner. Dave explains that Groffo hired the two men to kill him and reassures her that they can still go to California after he handles family business. After escorting Sharon out, Dave returns to Persa, who comforts him, and the two make love.
Later, at Zharko's funeral, Dave notices Tita in a wedding dress and informs Groffo of his plan to reimburse the young groom's parents so his sister will not have to marry. Groffo is enraged when Dave suggests that his father explain to the parents that the wedding cancellation is not Groffo's choice, but rather the king's decision. When Dave starts to leave with Tita, Groffo tries to stop him until Dave pulls a gun. Dave steals a car and drives away with his sister, promising to take her to California, but Groffo gives chase until both cars crash. Groffo flees the scene as Dave realizes Tita is dead.
Later, Dave goes to his parents' home with a shotgun. He chases Groffo throughout the apartment building before blasting his father out of a window, killing him at last. When the police arrive, Rose tells them an unknown gunman broke in and shot her husband.
At Groffo's funeral, Dave marvels at how many people showed up to pay their respects, even though his father was a terrible person. At the end of the service, Dave walks out of the cemetery with all the gypsies trailing behind him, noting that he never wanted the position of king, but perhaps he can lead the gypsies into the twentieth century.
