Farkus Faffner plans to auction off Faffner Hall's collection of musical instruments. The late Fughetta Faffner, a distant relative of Farkas and the founder of the hall, is horrified when she learns of Farkas' plans. The residents of the hall, including Riff, Mimi, the Wild Impresario and the ghost of Fughetta, attempt to teach Farkas that instruments are worth more than their monetary value.

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Faffner Hall is holding a "Festival of Sounds", and the Wild Impresario is trying to find a sound to top the bill. He gets a note in the mail from his old girlfriend Zola of his from his days in the Wild Bunch. Zola says in her note that she is coming to see Wild. Meanwhile, Farkus Faffner plans to blow up Faffner Hall where he will blame its residents and claim the insurance money.

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When an infant alien lands in Faffner Hall, Farkus comes up with a plan to become rich while Fughetta and Mimi discover that the alien needs music.

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Mimi informs Riff that the violinist virtuoso Piganini has booked a recording studio in town and plan to ask him to perform at Faffner Hall.

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Farkus Faffner enlists a zookeeper as his business partner where he sells Faffner Hall to the zookeeper so that he can turn it into a zoo.

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Fughetta Faffner does her half-century sound check around Faffner Hall where she must make sure that there is one ghost in Faffner Hall according to Page 17 Paragraph 4C of the "Rules of the Dead." Fughetta soon starts to hear the voice of J.J. Ready (who invented the cash register in 1877)

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Mimi discovers that a guy had broken the obo record by playing the longest note while on a tightrope. The original record holder was Fughetta's cousin Finkel back in 1853. Meanwhile, Farkus Faffner plans to use the instruments as scrap metal.

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A TV crew is coming to Faffner Hall for a special on the building; the regular residents hope it makes for good publicity. However, Farkas Faffner has another scheme: he wants to turn the hall into an amusement park!

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Guest Spot: James Taylor performs with the Wild Impresario.

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Guest Spot: Thomas Dolby demonstrates the sounds that you can make with a synthesizer. Patrick Moraz is the other musical guest.

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Using a talking skull (a recycled version of Yorick the Skull from The Muppet Show), Farkus Faffner traps Fughetta Faffner in her solidified state and traps her as part of his haunted house plot. Mimi, Riff, and Wild Impresario end up summoning Fughetta's Great Uncle Fishknife for help.

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A ghost exterminator named Madame Mumu (a recycled version of the Geri and the Atrics piano player from The Muppet Show) arrives at Faffner Hall where Farkus enlists her to get rid of Fughetta at the time when Farkus has a cold.

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Guest Spot: Michala Petri and Robin Williamson appear in this episode.

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