Securities Offering by Private Issuer - Form 253G2

Filed Pursuant to Rule 253(g)(2)

File No. 024-12098

SUPPLEMENT NO. 7 DATED AUGUST 20, 2024

MASTERWORKS VAULT 1, LLC

This Supplement No. 7 dated August 20, 2024 (this "Supplement"), supplements, and should be read in conjunction with, the offering circulars of Masterworks Vault 1, LLC (as amended and supplemented, each, an "Offering Circular" and, together, the "Offering Circulars"), originally filed on December 13, 2022, as amended by Amendment No. 1 filed on January 23, 2023, Amendment No. 2 filed on February 10, 2023, Amendment No. 3 filed on March 1, 2023, Amendment No. 4 filed on March 17, 2023, Amendment No. 5 filed on May 18, 2023, Post-Qualification Amendment No. 1 filed on May 25, 2023, Post-Qualification Amendment No. 2 filed on June 8, 2023, Post-Qualification Amendment No. 3 filed on June 15, 2023, Post-Qualification Amendment No. 4 filed on June 30, 2023, Post-Qualification Amendment No. 5 filed on August 1, 2023 and Post-Qualification Amendment No. 6 filed on August 15, 2023, Post-Qualification Amendment No. 7 filed on October 30, 2023, Post-Qualification Amendment No. 8 filed on November 7, 2023, Post-Qualification Amendment No. 9 filed on November 20, 2023, Post-Qualification Amendment No. 10 filed on January 23, 2024, Post-Qualification Amendment No. 11 filed on March 21, 2024, Post-Qualification Amendment No. 12 filed on May 1, 2024, Post-Qualification Amendment No. 13 filed on May 30, 2024, Post-Qualification Amendment No. 14 filed on July 31, 2024 and Post-Qualification Amendment No. 15 filed on August 7, 2024. 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, 2024. Accordingly, the Sharpe Ratio, Record Price Appreciation, Median Repeat Sale Pair Appreciation and Artist Market Profile 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
Jean-Michel Basquiat		0.97
Alighiero Boetti		1.46
George Condo		0.70
Adrian Ghenie		N/A
Jacqueline Humphries		N/A
Alex Katz		0.45
Barbara Kruger		1.51
Nicolas Party		N/A
Elizabeth Peyton		N/A
Gerhard Richter		0.70
Kazuo Shiraga		0.80
Lynette Yiadom-Boakye		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
Jean-Michel Basquiat			31.6	%		$	1,800			November 2, 1984		$	98,000,000			June 30, 2024
Alighiero Boetti			25.3	%		$	2,100			April 29, 1988		$	7,400,000			June 30, 2024
George Condo			22.5	%		$	2,500			May 6, 1986		$	5,805,900			June 30, 2024
Adrian Ghenie			59.0	%		$	18,000			March 8, 2011		$	8,662,588			June 30, 2024
Jacqueline Humphries			21.0	%		$	1,700			February 22, 1993		$	675,000			June 30, 2024
Alex Katz			12.7	%		$	28,000			May 9, 1984		$	3,444,098			June 30, 2024
Barbara Kruger			9.0	%		$	55,000			May 2, 1988		$	1,250,000			June 30, 2024
Nicolas Party			190.5	%		$	1,037			June 15, 2016		$	5,525,333			June 30, 2024
Elizabeth Peyton			26.7	%		$	6,000			November 17, 1999		$	2,033,333			June 30, 2024
Gerhard Richter			24.0	%		$	7,386			June 26, 1984		$	41,142,600			June 30, 2024
Kazuo Shiraga			24.2	%		$	12,050			December 19, 1993		$	8,952,716			June 30, 2024
Lynette Yiadom-Boakye			42.5	%		$	67,124			October 17, 2013		$	2,979,020			June 30, 2024

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

Jean-Michel Basquiat

16.8

%

100

May 8, 1996

May 13, 2024

Alighiero Boetti

14.4

%

33

December 8, 1999

May 16, 2024

George Condo

15.4

%

96

May 8, 1996

June 27, 2024

Adrian Ghenie

N/A

N/A

N/A

N/A

Jacqueline Humphries

N/A

N/A

N/A

N/A

Alex Katz

7.4

%

40

October 10, 1996

May 29, 2024

Barbara Kruger

13.9

%

16

November 17, 1999

May 15, 2023

Nicolas Party

N/A

N/A

N/A

N/A

Elizabeth Peyton

N/A

N/A

N/A

N/A

Gerhard Richter

11.3

%

143

June 27, 1996

June 27, 2024

Kazuo Shiraga

14.6

%

48

July 2, 2003

April 6, 2024

Lynette Yiadom-Boakye

N/A

N/A

N/A

N/A

Artist Market Profiles

Artist		Artist Market Profiles
Jean-Michel Basquiat		Mature
Alighiero Boetti		Mature
George Condo		Established
Adrian Ghenie		Emerging
Jacqueline Humphries		Speculative
Alex Katz		Established
Barbara Kruger		Emerging
Nicolas Party		Emerging
Elizabeth Peyton		Emerging
Gerard Richter		Mature
Kazuo Shiraga		Mature
Lynette Yiadom-Boakye		Emerging

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