Magda is first seen at the auction of the Fabergé egg named "Property of a Lady" with Kamal Khan. Bond notices her by saying "Now there is a lady." Magda informs Khan of the missing copy they have lost, and thus Khan has to bid for his own egg in order to return it to the Russian vaults and uncover their operation. Bond and an MI6 art assessor bid against them, replacing the (real) egg with the copy missing by Kamal, which was retrieved by agent 009 at the cost of his life. Finally, Bond allows them to have the jewel, after having augmented its price considerably. In the switch, Bond manages to steal the authentic egg.
After it becomes clear that Bond has the egg, Magda is sent to seduce Bond to retrieve it. Bond allows this so he can follow the egg. At the Monsoon Palace, Magda witnesses Bond escaping but does not tell. Later, Magda is seen at the Octopussy circus as a performer. At the end of the film she helps Octopussy reach Khan.