A sculptor of wax figures for a museum is horrified when his partner proposes setting fire to the unpopular museum in order to collect the insurance money. As the wax figures melt amid the blaze, the two men have a fight. The sculptor is knocked out in the scuffle and left to "perish" among the flames. He resurfaces many years later for the launch of his own wax museum. The opening coincides with the sudden disappearance of some dead bodies from the city morgue. His assistant begins to suspect his boss of foul play, especially after the deranged wizard of wax begins eyeing his assistant's lovely girlfriend's friend as a model for a waxed figure of Marie Antoinette.