Filed Pursuant to Rule 253(g)(2)
File No. 024-12313
SUPPLEMENT NO. 1 DATED SEPTEMBER 14, 2023
MASTERWORKS VAULT 4, LLC
This Supplement No. 1 dated September 14, 2023 (this “Supplement”), supplements, and should be read in conjunction with, the offering circulars of Masterworks Vault 4, LLC (as amended and supplemented, each, an “Offering Circular” and, together, the “Offering Circulars”), originally filed on August 10 2023, as amended by Post-Qualification Amendment No. 1 filed on August 29, 2023 and Post-Qualification Amendment No. 2 filed on September 11, 2023. This Supplement should be read in conjunction with the Offering Circulars (including the disclosures incorporated by reference therein). Unless otherwise defined in this Supplement, capitalized terms used in this Supplement shall have the same meaning as set forth in the Offering Circulars. Except as set forth in this Supplement, the Offering Circulars remain unchanged.
The purpose of this Supplement is to disclose certain changes to the Offering Circulars relating to the Artwork and Artist Metrics. Particularly, the Masterworks public sale database has been updated as of June 30, 2023. Accordingly, the Sharpe Ratio, Record Price Appreciation and Median Repeat Sale Pair Appreciation for each relevant artist listed in the “Description of Business - Artist Metrics” section of the Offering Circulars has been updated, as applicable, as shown below.
“Sharpe Ratio”
| Artist | Sharpe Ratio | |
| Christine Ay Tjoe | 1.23 | |
| Helen Frankenthaler | 1.70 | |
| Avery Singer | N/A |
Record Price Appreciation
| Artist | Compound Annual Growth Rate (“CAGR”) | First Record Price | First Record Price Date | Last Record Price | Last Record Price Date | |||||||||||
| Christine Ay Tjoe | 44.0 | % | $ | 3,341 | November 26, 2006 | $ | 1,416,635 | June 30, 2023 | ||||||||
| Helen Frankenthaler | 12.7 | % | $ | 60,000 | May 9, 1984 | $ | 6,700,000 | June 30, 2023 | ||||||||
| Avery Singer | 139.5 | % | $ | 28,711 | October 6, 2017 | $ | 4,300,000 | June 30, 2023 | ||||||||
Median Repeat Sale Pair Appreciation
| Artist | Median Repeat Sale Pair Appreciation Rate | Number of Repeat Sales | First Repeat Sale Pair Date | Last Repeat Sale Pair Date | ||||||||
| Christine Ay Tjoe | 19.3 | % | 21 | May 22, 2001 | April 12, 2023 | |||||||
| Helen Frankenthaler | 13.4 | % | 35 | May 8, 1984 | May 12, 2023 | |||||||
| Avery Singer | N/A | N/A | N/A | N/A | ||||||||