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This article analyzes the heritage condition of Valparaiso city, the involved actors and their challenges. Funiculars will be used as an example to understand the contradictions in the city's heritage policy. Since 2003, when the UNESCO declared Valparaiso a World Heritage Site, the process of patrimonilisation resulted in new ways of commitment and transactions between the various actors involved (both endogenous and exogenous). Through the interview analysis of the identified actors and key experiences, we'll expose the valorization of heritage paradoxes. The relationship between the material and immaterial (seen in the funiculars) created a new barging terrain between institutions and residents.