A small group of misfit friends and petty crooks are hired by a mysterious man to break into a derelict suburban house with the sole purpose of finding and stealing a rare videotape.
Their only clue to identifying the tape in question is, 'You’ll know it when you see it.'
However, on arrival at the house they soon realize the job isn’t as straightforward as they imagined. In one room they discover the lifeless body of a middle-aged man sitting in an armchair, facing a wall of television sets and a stack of VHS cassettes.
A similar bounty of tapes is found in the basement, none of which bears any obvious markings to suggest it is the prize they are seeking.
As they search through the tapes, playing them in turn, they are treated to a succession of graphic and apparently genuine video recordings, each one more shocking and bizarre than the last.