The market gaite draws inspiration from the antique division of Bevagna in four districts called Gaite which was based on the administrative organization of the city in medieval times. The purpose of the event is to rebuild with greater historical relevance and great detail the daily life of the inhabitants of Bevagna in the period between 1250 and 1350 for this purpose, since 1983 a group of scholars consider carefully the statute sixteenth of the City Bevagna from which it derives the necessary information to the historical reconstruction of political, administrative, economic and social.

The Palio of the Phantom is the major traditional festival of Castel Ritaldi. It represents parades in historical garb and challenges on all fronts between the districts of the city to win the Palio defended by the ghost of Count Ritaldi, died in suspicious circumstances centuries ago.