The use of the water-oil interface provides significant advantages in the synthesis of inorganic nanostructures. Employing the water-toluene interface, luminescent CdS nanocrystals have been obtained at a relatively modest temperature of 35 degrees C. The diameters of the particulates can be varied between 1.0 and 5.0 nm. In addition, we have devised a new method for transferring thin films at the water-toluene interface onto solid substrates. Using this method, thin films consisting of Au and Ag nanocrystals spread over very large areas (square centimetres) are obtained in a single step. These films are directly usable as ingredients of functional devices. We show this by constructing a working amine sensor based on films of Au nanocrystals. The materials obtained have been characterized by X-ray diffraction, scanning and transmission electron microscopy, absorption and emission spectroscopy and charge transport measurements.