In 1970, it was decided to make the building into a tourist attraction, and it was remodeled at a cost of nearly six million pesos. With work done, the building was ceded to the Federación Nacional de Charros (National Federation of Charros), who converted it into the current museum. It was inaugurated in 1973 and is the only one of its kind in Mexico City. The museum presents arts and crafts related to the sport and tradition such as saddles, lassos, hats, charro suits, firearms and more. Most of the museum pieces have been donated by aficionados of the sport. Some of these items belonged to people such as Maximilian I of Mexico and Francisco Villa. The collection is divided by three historical periods, the colonial area, post-Independence and the Mexican Revolution to the present. There is also a collection of watercolors by José Albarrán Pliego as well as dresses worn by the China Poblana. Since its opening, the collection has continued to grow as the museum receives more donations.