Bathory is known as the most infamous serial killer in history who was accused of torturing and killing hundreds of girls and young women. According to legend she bathed in the blood of virgins in order to retain her youth.
Film critics say the film's budget has broken the central European record.
Czech-Slovak-Hungarian-British co-production, directed by Slovakia's Juraj Jakubisko -- dubbed by some as "the Eastern European Fellini" -- stars British actress Anna Friel in the title role.
"Instead of showing the Blood Countess, I wanted to present Erzsebet Bathory as a personality," Jakubisko - who received the festival's Crystal Globus prize for his contribution to world cinema - said before the premiere.
The 140-minute film also features Franco Nero who plays the Hungarian king Mathias. The film's Hungarian cinematographer was Janos Kende.
