Pip is a hopeless romantic living in a small town with his cobbler father and stepmother. His stepmother's greatest wish is to move to court, but his father insists they find Pip a husband first. Not willing to wait any longer, his evil stepmother spreads a rumor that Pip can turn pebbles into jewels, and make those precious gems into slippers. 

When the Aelfin king hears of this, he has Pip captured and thrown in the dungeon. Pip has one night to make the king a pair of gemstone slippers, or his life is forfeit. Luckily for Pip, who has never worked with a single gemstone much less an entire slipper's worth, the king's son has magical powers that can make bejeweled slippers—and he wants revenge on the king for casting him out. 

The two strike a bargain, but one pair of jeweled slippers leads to more and more demands, and Pip swiftly runs out of things to trade, until all that remains is his heart...