A bourgeois Cuban family of aristocratic origin locks itself into its mansion when the Cuban Revolution comes to power, waiting for the new regime to be overthrown. As time passes, they regress to older and older systems of policital order, from capitalism to feudalism to "primitive savagery."
When her country is taken over by socialist revolutionaries, a wealthy woman can't bear to give up all of her wealth and possessions to the new government, so she hides all of her treasures in the 12 chairs of a dining-room set. After her death her nephew finds out what she had done and, since the chairs had been "nationalized" and are now in the possession of a dozen different people, he sets out to track them down and get the treasures he believes rightfully belong to him.