While Dingoes Ate My Baby performs onstage at the Bronze, Willow listens to Buffy discuss her relationship with Parker, who is playing a game of pool not too far away. On his way out, Parker offers to walk Buffy back to the dorm, and she readily accepts. Outside, while Devon and Oz load their equipment into the van, Willow encounters Harmony for the first time since graduation. Suddenly, a sharp pain strikes Willow's neck as she discovers that Harmony is now a vampire, feeding off of her former classmate. Before Harmony can take too much blood, Oz pulls her off of Willow, who immediately raises her cross. Harmony takes off, but not before warning Willow and Oz that her own boyfriend is going to be fairly upset. Meanwhile, Parker and Buffy discuss their pasts while walking to Stevenson Hall. When Parker notices the scar on her neck, Buffy tosses out a cover story about an angry puppy. Parker then tells Buffy that his father died a year ago. Stopping for a moment, Parker asks Buffy to join him at an upcoming party at one of the frat houses. Upon finally arriving at room 214 in Stevenson Hall, Parker and Buffy move in for a goodbye kiss. Their lips never touch, for Oz and Willow rush down the hallway to tell Buffy about Harmony. After Parker leaves, Willow describes the event while Oz cleans the wound and applies a band-aid. Little do they know that Harmony's boyfriend is none other than Spike.
The next morning, deep beneath the streets of Sunnydale, Spike goes over the city plans, planning his next course of tunneling. Frustrated and bored, Harmony persuades Spike to take her to a party for some fresh food. Later that night, while working a part-time job at Giles' apartment, Xander gets a surprise visit from Anya. Under the impression that they're a couple, Anya tells Xander about his constant presence in her dreams. Shocked and confused, Xander tries to convince Anya that they don't have a relationship. At the party, Parker and Buffy run into Spike and Harmony. After some brief introductions, Spike flees the scene. Buffy follows him outside and gets into a sparring-and-trash-talking session. Harmony arrives shortly, explaining that Drusilla left Spike once again. Before Spike can retreat, Harmony mentions the Gem of Amara. Furious, Spike grabs Harmony and leaves. Buffy heads to the nearest phone and calls Giles to tell him about Spike, Harmony, and the Gem of Amara. Giles describes the gem as "the vampire equivalent of the Holy Grail", but he also explains that it doesn't actually exist. While Buffy heads back inside to find Parker, Anya visits Xander once again, this time in the basement of his house. When Xander reaches into the fridge to offer her a drink, Anya drops her dress to the floor while his back is turned. Paralyzed by what he sees after turning back around, Xander can only listen as Anya describes her plan to get him out of her mind once and for all: to have sexual intercourse with him. Xander tries to resist, but he soon crumbles and gives in to Anya's demands. Back at the party, Parker talks to Buffy about his beliefs on fate. Going with her instincts, Buffy passionately kisses Parker, then follows him back to his room for the night.
Buffy wakes up the next morning to find that she's alone in Parker's bed. As she tries to gather all of her clothes, Parker walks in with a few cups of coffee. Before Buffy leaves, Parker promises to give her a call later in the day. Buffy returns to her room, only to find Giles at the computer with Willow. Giles brings Buffy up-to-speed on his research concerning the Gem of Amara. From what he's learned, the gem may not only be real, but it could also be located in Sunnydale. After Giles leaves, Willow demands details about Buffy's night with Parker. At the Harris residence, Anya tells Xander that she's finally over him. When Xander mutters a simple "okay", Anya gets upset and leaves. Meanwhile, Harmony wakes up Spike by writing a love note on his back. In the tunnel, Spike and his vampire cohorts realize that they're close to the crypt they're looking for. As hours, then days, go by, Buffy constantly checks her answering machine, never getting a single message from Parker, while Spike finally drills through the ground of the crypt.
Inside the crypt, Spike approaches a beautiful necklace with a shining emerald in the middle of the room. While he puts it on, Harmony tries on various rings and tiaras. Spike reaches for a nearby cross, believing that the Gem of Amara has rendered him invincible to all vampire weaknesses. However, a burning pain accompanies Spike's handling of the cross. Fed up with Harmony's constant rambling, Spike tries to dust her with a make-shift stake. However, the hole in her chest quickly reseals. Spike immediately identifies the Gem of Amara on the ring that Harmony put on. He takes it from her and heads up to the surface, where the sun is still shining. While walking around campus, Buffy finds Parker telling the story of his deceased father to another pretty girl. Pulling him aside, Buffy tries to find out what's been going on. Parker informs Buffy that she mistook a little fun for a serious commitment. Crushed and dejected, Buffy watches Parker as he walks off. A familiar voice gets Buffy's attention, and she turns just in time to see Spike's fist. While they fight, Giles and the others follow a lead from a news report to the tunnels beneath Sunnydale, while Xander goes to Stevenson Hall to find Buffy. There, he runs into Anya, who he quickly brushes off due to current circumstances regarding Buffy's whereabouts. Underground, Giles, Willow, and Oz question a distraught Harmony, but she flees before divulging Spike's location. Back above ground, Spike assaults Buffy both physically and verbally, ridiculing her failed relationship with Parker by likening it to the aftermath of her passionate night with Angel. Xander finds them and tries to help out, but Spike handles him effortlessly by throwing him into a nearby post. Buffy finally gains the upper hand and removes the Gem of Amara, causing Spike to suddenly retreat from the burning rays of sunlight.
Back at Giles' apartment, Buffy announces her decision to give the Gem of Amara to Angel. With a planned gig in Los Angeles, Oz agrees to take the ring with him. Later that night, Buffy tries to figure out with Willow what went wrong between Parker and herself. Deciding she needs some time alone, Buffy lets Willow go an ahead to the dorm room. Buffy silently walks down the sidewalks of UC-Sunnydale, confused and dejected. Unbeknownst to Buffy, Anya and Harmony are doing the exact same thing. As the moon illuminates the otherwise dark campus, the lonely trio continues along, their paths never crossing. Episode Synopsis by: Alan Hufana