The framing story concerns a man who dreams of speaking to Venus about love while she wears furs. The unnamed narrator tells his dreams to a friend, Severin, who tells him how to break himself of his fascination with cruel women by reading a manuscript, Memoirs of a Suprasensual Man.
This manuscript tells of a man, Severin von Kusiemski, who is so infatuated with a woman, Wanda von Dunajew, that he asks to be her slave, and encourages her to treat him in progressively more degrading ways. At first Wanda does not understand or accede to the request, but after humouring Severin a bit she finds the advantages of the method to be interesting and enthusiastically embraces the idea, although at the same time she disdains Severin for allowing her to do so.