When exploring their grandmother's attic, Jack, Olivia and Charlie find a magical yellow raincoat which transports whoever wears it into the body of the great magician Augustus Semprini. A century ago, Semprini stole a family heirloom from a witch, and as his punishment, she cursed him to spend his remaining days trapped within the threads of his raincoat. Now with a wicked witch on their trail desperate to reclaim the jewels trapped within the coat, and a nefarious property developer intent on splitting up their family, the kids race against the clock to solve the mystery of the raincoat, release Semprini from his curse and win back their family home.