# EDGAR Filing Document

**Accession Number:** 0001956506
**File Stem:** 0001493152-23-002188
**Filing Date:** 2023-1
**Character Count:** 6402
**Document Hash:** a914a50d82bf50a65089e4b385a61ae9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-23-002188.hdr.sgml**: 20230123

**ACCESSION NUMBER**: 0001493152-23-002188

**CONFORMED SUBMISSION TYPE**: 1-U

**PUBLIC DOCUMENT COUNT**: 10

**CONFORMED PERIOD OF REPORT**: 20230123

**ITEM INFORMATION**: Other Events

**FILED AS OF DATE**: 20230123

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Masterworks 215, LLC
- **CENTRAL INDEX KEY:** 0001956506
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-RETAIL STORES, NEC [5990]
- **IRS NUMBER:** 884331670
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 1-U
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 24R-00758
- **FILM NUMBER:** 23544485

**BUSINESS ADDRESS:**
- **STREET 1:** 225 LIBERTY STREET
- **STREET 2:** 29TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10281
- **BUSINESS PHONE:** 2035185172

**MAIL ADDRESS:**
- **STREET 1:** 225 LIBERTY STREET
- **STREET 2:** 29TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10281

**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

**January 23, 2023**

Date of Report: (Date of earliest event reported)

**MASTERWORKS 215, LLC**

(Exact name of issuer as specified in its charter)

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| | |
|:---|:---|
| **Delaware** | **88-4331670** |
| State of other jurisdiction of | (I.R.S. Employer |
| incorporation or organization | Identification No.) |

---

**225 Liberty Street, 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 copy of materials used on www.masterworks.com 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 15(b) and a copy of the transcript of the promotional video embedded in such materials is attached to the Form 1-U as Exhibit 99.1.

**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**

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| | |
|:---|:---|
| Exhibit No. | Description of Exhibit |
| 15(b) | [Website materials](ex15b.htm). |
| 99.1 | [Promotional video transcript.](ex99-1.htm) |

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**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 215, LLC | MASTERWORKS 215, LLC |
|  | By: | */s/ Joshua B. Goldstein* |
|  | Name: | Joshua B. Goldstein |
|  | Title: | General Counsel |
| Date: January 23, 2023 |  |  |

---

## Add

**Exhibit 15(b)**

![](ex15b_001.jpg)

![](ex15b_002.jpg)

![](ex15b_003.jpg)

![](ex15b_004.jpg)

![](ex15b_005.jpg)

![](ex15b_006.jpg)

![](ex15b_007.jpg)

## Add

**Exhibit 99.1**

Hello everyone,

My name is Grace Harlow and I am an Appraiser here at Masterworks.

We are excited to announce a new offering, a work of art by the Italian conceptual artist, Alighiero Boetti. As a prominent member of the Arte Povera movement, Boetti routinely employed innovative processes within his practice, often through the use of unconventional materials.

To provide investment quality offerings by the artist, our acquisitions team has reviewed 50 examples of Boetti's works from around the world, many of which are priced in excess of $2 million. Of these examples, this is the third we have selected to be offered on the Masterworks platform.

Executed in 1983, the artwork is a medium-scale example from the artist's well-known "Mappe" series. The series consists of colorful tapestry maps of the world, where each country is represented by the colors of their flag. Boetti acquired the cloth for the "Mappe" works and designed the general outline but sent the materials to Afghanistan (and later Pakistan), where skilled Afghan women from local embroidery schools completed the tapestries. The "Mappa" works were produced from 1971 until the artist's death in 1994, and each one documents the geopolitical landscape at the moment of its conception.

As of January 2023, examples comparable in scale to the Artwork have sold in excess of $2.2 million at auction. These examples include: "Mappa" (1978), which is slightly larger than the Artwork and sold for $3.4 million at Sotheby's, London in October of 2021, and "Mappa" from (1984), which sold for $2.2 million at Christie's, London in October of 2020.

Between November 1998 to November 2021, auction sales of similar works to our offering have increased at an estimated annualized appreciation rate of 14.4%. Between October 1989 to September 2022, the record auction price for Boetti's works has grown at a compound annualized rate of 26.6%.