The article deals with several problematic issues related to the commercialization of the past in postindustrial, postmodern consumer societies. Primarily, the process of the commercialization of urban centres, especially of historical cities and their images, is analysed in the context of contemporary global cultural economics; moreover, a question on the forms and shapes assumed by this process is raised. Secondly, this article considers the meaning of this process or, in other words, – what is it telling about the condition of our society and attitudes towards the past? Undoubtedly, an adequate assessment of understanding of the socioeconomic tendencies, which are faced by the cities influenced by neoliberalism, is very important and relevant to post-colonial and post-communist countries, which, like Lithuania, are still seeking for their identity in the face of economical and cultural globalization challenges.