Spencer Reinhard, an art student seeking excitement or tragedy for inspiration, is given a tour of Transylvania University library's rare-book collection; his eye is drawn to a rare first edition of John James Audubon's Birds of America. He and his friend Warren Lipka, a rebellious student on an athletic scholarship at the University of Kentucky, discuss the possibility of stealing it and other rare books.[6] They note that the collection is guarded by only one librarian, whom they believe they could easily overpower before stealing the books and escaping via the staff elevator. Warren travels to Amsterdam to meet black-market buyers who express interest, informing Spencer they could make millions. They later enlist the help of two friends: Eric Borsuk to provide logistics and Chas Allen as the getaway driver.
They make an appointment for a private viewing of the collection in order to gain access to the room, and arrive disguised as elderly businessmen; but they abort the heist when Warren sees multiple librarians in the room. Spencer wants to abandon the plan, but Warren persuades him and the others to try again the next day. Spencer acts as a lookout as Warren and Eric, without disguises, enter the library. Warren clumsily uses a stun gun on the librarian, making Eric help restrain her. They blunder to the exit, dropping The Birds of America, but escape with two books.
The group travels to Christie's auction house in New York to get the authentication of value Warren said the Dutch buyers required. Spencer is told he has to return the next day and leaves his cell phone number with an assistant. Chas berates Spencer for using a phone number that can be identified as his, and they return to Lexington with the books. Shortly after, Spencer realizes the police will also be able to trace the email address they used to make the appointments with Christie's and the library; the FBI eventually does, and they are arrested.
In documentary interviews with the real-life thieves filmed years after they are released from prison, they express regret. Spencer suspects Warren lied about going to Amsterdam in order to convince the others to partake in the heist. Eric and Chas now live in California as a writer and a fitness coach, respectively; Warren studies filmmaking in Philadelphia; and Spencer lives in Lexington as an artist.
