Form 1-U Masterworks 129, LLC For: Jun 30

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 1-U

 

CURRENT REPORT

Pursuant to Regulation A of the Securities Act of 1933

 

June 30, 2022

Date of Report: (Date of earliest event reported)

 

MASTERWORKS 129, LLC

(Exact name of issuer as specified in its charter)

 

Delaware		88-1150729
State of other jurisdiction		(I.R.S. Employer
of incorporation or organization		Identification No.)

 

225 LIBERTY ST., 29th FLOOR, NEW YORK, NY 10281

(Full mailing address of principal executive offices)

 

(203) 518-5172

(Issuer’s telephone number, including area code)

 

www.masterworks.com

(Issuer’s website)

 

Class A Ordinary Shares

(Securities issued pursuant to Regulation A)

 

 

 

Item 9. Other Events

 

A promotional email correspondence sent to certain potential investors of the Issuer relating to the Issuer’s ongoing offering of Class A Ordinary Shares pursuant to Regulation A of the Securities Act of 1933, as amended, is attached to the Form 1-U as Exhibit 99.1 and a copy of the transcript of the promotional video posted on the Issuer’s website is attached to the Form 1-U as Exhibit 99.2.

 

Safe Harbor Statement

 

This Current Report on Form 1-U contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including those described under the section entitled “Risk Factors” in our most recent Offering Circular filed with the Securities and Exchange Commission (“SEC”), as such factors may be updated from time to time in our periodic filings and offering circular supplements filed with the SEC, which are accessible on the SEC’s EDGAR website. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in our filings with the SEC. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

 

Exhibit Index

 

Exhibit No.		Description of Exhibit
99.1		Promotional email correspondence.
99.2		Promotional video transcript.

 

 

SIGNATURES

 

Pursuant to the requirements of Regulation A, the issuer has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

	MASTERWORKS 129, LLC
	By:	/s/ Joshua B. Goldstein
	Name:	Joshua B. Goldstein
	Title:	General Counsel
Date: June 30, 2022

 

 

 

Exhibit 99.1

 

 

 

 

 

 

Exhibit 99.2

 

Hi everyone,

 

My name is Maya Shah, and I am a specialist on the Masterworks acquisitions team.

 

Our latest offering is a painting by Kazuo Shiraga titled, “xCxhxixsxuxixsxexix xTxsxuxhxixexnx.” This work is an excellent example of Shiraga’s seminal body of work, the “Water Margin” series. The Painting’s dynamic, impastoed surface, rich palette and date of execution make it a commercially attractive work from Shiraga’s most desirable series.

 

Kazuo Shiraga was one of the most influential Japanese Post-War artists, best known for his integration of performance and painting. Works by the artist have been included in group exhibitions at renowned institutions such as the Museum of Modern Art, the Museum of Contemporary Art, Los Angeles and the San Francisco Art Institute.

 

Shiraga’s work is also held in the permanent collections of the Metropolitan Museum of Art in New York, the Centre Pompidou in Paris and the Walker Art Center in Minneapolis, among others.

 

The artist’s cultural significance and institutional recognition has translated into commercial success in recent years. Per Artprice, in 2021, Shiraga was ranked in the top 125 artists, with total auction turnover of $17.6 million, inclusive of buyer’s premium.

 

To find investment quality works by the artist, our acquisitions team has reviewed over 95 examples from around the world, some of which are priced in excess of $5 million. Of these 95 works, we have carefully selected three to be offered on the Masterworks platform.

 

As of June 2022, Shiraga’s auction records are led by “Takao,” which sold for the equivalent of $10.3 million on June 6, 2018 at Sotheby’s in Paris, “Tentaisei Soushiko,” which sold for the equivalent of $8.6 million on December 4, 2019 at Sotheby’s in Paris and “Gekidou Suru Aka,” which sold for the equivalent of $5.3 million on June 3, 2014 also at Sotheby’s in Paris. All prices are inclusive of buyer’s premium.

 

Between July 2003 and November 2021, auction sales of works by Shiraga which are similar to “xCxhxixsxuxixsxexix xTxsxuxhxixexnx,” defined as paintings which are part of the “Water Margin” series and were executed between 1959 and 1965 and were named for the “Earthly Gods” of the “Water Margin,” which measure between 50 and 77 inches in either orientation, have increased at an estimated annualized appreciation rate of 23.4%.

 

Overall, Masterworks’ “track record” across all of our investment vehicles is 14.3%, net of fees, on an annualized basis through March 31st, 2022.

 

Investing involves risk and past price performance is not indicative of future results. Diversification and asset allocation do not ensure profit or guarantee against loss. There are significant differences between art and other asset classes. Investing involves risk, including loss of principal. Before investing in our offering, please be sure to carefully review the Offering Circular and see important Regulation A disclosures at masterworks dot io slash cd.

 

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