Well, actually I don't know how much it cost, but it must have been big (million-dollar movies were being made in the late 20's--although back then spending a million dollars on a movie was like making "Terminator II"). But "Faust" was expensive in the sense that they had to hire droves of workers to physically build all of what's seen. If someone is lying on a hillside looking up at the sky, they built the exact hill they wanted. It was pretty cool to see on the big screen, actually!
I also wanted to mention that the lighting was as subtle as anything done nowadays.
Supposedly this is available on DVD...
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