SEC Comment Letter for Masterworks Vault 10, LLC (CIK 0001989528) — Dec 23, 2025
Masterworks Vault 10, LLC (CIK 0001989528)
Date: Dec. 23, 2025 · CIK: 0001989528 · Accession: 0000000000-25-011781
AI Filing Summary & Sentiment
Reasoning
File numbers found in text: 024-12323
Letter
December 23, 2025 Joshua Goldstein General Counsel and Secretary Masterworks Vault 10, LLC 1 World Trade Center, 57th Floor New York, New York 10007 Re:Masterworks Vault 10, LLC Amendment No. 10 to Offering Statement on Form 1-A Filed December 4, 2025 File No. 024-12323 Dear Joshua Goldstein: We have reviewed your amended offering statement and have the following comments. Please respond to this letter by amending your offering statement and providing the requested information. If you do not believe a comment applies to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewing any amendment to your offering statement and the information you provide in response to this letter, we may have additional comments. Unless we note otherwise, any references to prior comments are to comments in our December 1, 2025 letter. Amendment No. 10 to Offering Statement on Form 1-A Incorporation of Certain Information by Reference, page v 1.In your January 31, 2025 response to comment 5 from our December 23, 2024 comment letter, you said you would include a balance sheet as of the end of the preceding fiscal year in future Forms 1-SA. However, your Forms 1-SA filed on September 26, 2025 did not include the aforementioned balance sheet. Please revise these Forms 1-SA to include a balance sheet as of the end of the preceding fiscal year (i.e., December 31, 2024). Refer to Item 3(a) of Form 1-SA.
December 23, 2025 Page 2 Unaudited Historical and Pro Forma Financial Statements, page F-1 2.Please update your filing to include historical interim financial statements in accordance with paragraphs (b)(3)(ii) and(b)(5) in Part F/S of Form 1-A. Additionally, please update your pro forma financial statements accordingly. Please contact Scott Stringer at 202-551-3272 if you have questions regarding comments on the financial statements and related matters. Please contact Alyssa Wall at 202- 551-8106 or Donald Field at 202-551-3680 with any other questions. Sincerely, Division of Corporation Finance Office of Trade & Services
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December 23, 2025
Joshua Goldstein
General Counsel and Secretary
Masterworks Vault 10, LLC
1 World Trade Center, 57th Floor
New York, New York 10007
Re:Masterworks Vault 10, LLC
Amendment No. 10 to Offering Statement on Form 1-A
Filed December 4, 2025
File No. 024-12323
Dear Joshua Goldstein:
We have reviewed your amended offering statement and have the following
comments.
Please respond to this letter by amending your offering statement and providing the
requested information. If you do not believe a comment applies to your facts and
circumstances or do not believe an amendment is appropriate, please tell us why in your
response.
After reviewing any amendment to your offering statement and the information you
provide in response to this letter, we may have additional comments. Unless we note
otherwise, any references to prior comments are to comments in our December 1, 2025 letter.
Amendment No. 10 to Offering Statement on Form 1-A
Incorporation of Certain Information by Reference, page v
1.In your January 31, 2025 response to comment 5 from our December 23, 2024
comment letter, you said you would include a balance sheet as of the end of the
preceding fiscal year in future Forms 1-SA. However, your Forms 1-SA filed on
September 26, 2025 did not include the aforementioned balance sheet. Please revise
these Forms 1-SA to include a balance sheet as of the end of the preceding fiscal year
(i.e., December 31, 2024). Refer to Item 3(a) of Form 1-SA.
December 23, 2025
Page 2
Unaudited Historical and Pro Forma Financial Statements, page F-1
2.Please update your filing to include historical interim financial statements in
accordance with paragraphs (b)(3)(ii) and(b)(5) in Part F/S of Form 1-A. Additionally,
please update your pro forma financial statements accordingly.
Please contact Scott Stringer at 202-551-3272 if you have questions regarding
comments on the financial statements and related matters. Please contact Alyssa Wall at 202-
551-8106 or Donald Field at 202-551-3680 with any other questions.
Sincerely,
Division of Corporation Finance
Office of Trade & Services