In 1999, the artist achieved a new high in the auction market with the sale of Portrait Of Sir Jamshedji Jijibhai (1910), offered in the Intuitive-Logic - The Next Step: Auctions of Indian Art - Classical, Folk, Tribal, Modern & Contemporary Traditions by HEART, which concluded on 28 November 1999 at New Delhi, achieving a sale price of ₹4,41,000 ($10,161). This record marked a defining moment in the artist's market history, reflecting both the significance of the artwork and its reception within the broader art world.

In 2018, the artist achieved a new high in the auction market with the sale of Diana of the Uplands (1911), offered in the Modern Indian Art by Asta Guru, which concluded on 22 December 2018 at Mumbai, achieving a sale price of ₹49,30,254 ($70,255.86). This record marked a defining moment in the artist's market history, reflecting both the significance of the artwork and its reception within the broader art world.

In 2005, the artist achieved a new high in the auction market with the sale of Parsi Lady (1920), offered in the Indian and Southeast Asian Art: Including Modern and Contemporary Indian Art by Christie's, which concluded on 31 March 2005 at New York, achieving a sale price of ₹9,97,500 ($22,800). This record marked a defining moment in the artist's market history, reflecting both the significance of the artwork and its reception within the broader art world.

In 2007, the artist achieved a new high in the auction market with the sale of Portrait (1925), offered in the ABC Series III: Art, Book & Cinema by Osian's, which concluded on 29 March 2007 at New Delhi, achieving a sale price of ₹12,00,000 ($27,605). This record marked a defining moment in the artist's market history, reflecting both the significance of the artwork and its reception within the broader art world.

M.F. Pithawala was one of the greatest portrait painters of modern Indian art. Sir Jamshedji Jijibhai, a foremost philantropist & industrialist of his time, gifted funds to set up the Sir J.J. School of Art. His intention was that: “Under proper guidance, the people of India would attain a degree of proficiency in painting and sculpture which would lead to an extended taste for such objects…[and] would enable India once more to take up an advanced position among manufacturing countries of the world.”

In 2018, the artist achieved a new high in the auction market with the sale of Parsi Lawyer (1934), offered in the Modern Indian Art by Asta Guru, which concluded on 27 March 2018 at Mumbai, achieving a sale price of ₹27,55,170 ($42,519.83). This record marked a defining moment in the artist's market history, reflecting both the significance of the artwork and its reception within the broader art world.