# EDGAR Filing Document

**Accession Number:** 0001908830
**File Stem:** 0001493152-23-001047
**Filing Date:** 2023-1
**Character Count:** 6329
**Document Hash:** 7d3588227cfb11eb7eb9d5ee4c046bde
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-23-001047.hdr.sgml**: 20230110

**ACCESSION NUMBER**: 0001493152-23-001047

**CONFORMED SUBMISSION TYPE**: 1-U

**PUBLIC DOCUMENT COUNT**: 10

**CONFORMED PERIOD OF REPORT**: 20230110

**ITEM INFORMATION**: Other Events

**FILED AS OF DATE**: 20230110

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Masterworks 108, LLC
- **CENTRAL INDEX KEY:** 0001908830
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-RETAIL STORES, NEC [5990]
- **IRS NUMBER:** 874684025
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 1-U
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 24R-00748
- **FILM NUMBER:** 23520095

**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 10, 2023**

Date of Report: (Date of earliest event reported)

**MASTERWORKS 108, LLC**

(Exact name of issuer as specified in its charter)

---

| | |
|:---|:---|
| **Delaware** | **87-4684025** |
| 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.](ex15-b.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 108, LLC | MASTERWORKS 108, LLC |
|  | By: | */s/ Joshua B. Goldstein* |
|  | Name: | Joshua B. Goldstein |
|  | Title: | General Counsel |
| Date: January 10, 2023 |  |  |

---

## Add

**Exhibit 15(b)**

![](ex15-b_001.jpg)

![](ex15-b_002.jpg)

![](ex15-b_003.jpg)

![](ex15-b_004.jpg)

![](ex15-b_005.jpg)

![](ex15-b_006.jpg)

![](ex15-b_007.jpg)

## Add

**Exhibit 99.1**

Hi everyone,

My name is Lauren Zakarian-Cogswell and I am a Director on the Masterworks acquisitions team.

I am pleased to announce our latest offering, a work of art by the British Op Art painter, Bridget Riley. In 2021, Riley's total auction turnover was over $17 million, ranking her 124th among all artists.

To provide investment quality paintings by the artist, our acquisitions team has reviewed approximately 70 examples of Riley's works from around the world, many of which are priced in excess of $2 million. Of these examples, this is the fifth painting by the artist that we have selected to be offered on the Masterworks platform.

The current offering is titled "xAxrxcxaxnxex" and was executed in 1972. The Painting is an example of Riley's ongoing use of line and color to explore optical perception of vibration and movement. In addition to its extensive exhibition history, the Painting was formerly owned by the late Paul Allen, whose art collection recently set the record as the most valuable private collection to sell at auction, surpassing more than $1.6 billion.

As of November 2022, works executed in the 1970s, such as the Painting, account for four of the artist's top ten auction records, all of which were set within the last two years. These are led by "Gala" (1974), which is larger than the Painting and sold for $5.7 million at Christie's, London in March of 2022, "Zing 2" (1971), which is also larger than the Painting and sold for $4.5 million at Christie's, London in June of 2021, and "Halcyon 2" (1972), which was executed in the same year and size as the Painting, and sold for $3.5 million at Christie's, London in October of 2021.

Between February 1992 to June 2022, auction sales of similar works to our offering have increased at an estimated annualized appreciation rate of 17.9%.