Exhibit 99.1

Masterworks 016, LLC

	Gross Artwork Sale Proceeds	$	2,900,002.00
(+)	Cash on Balance Sheet	$	111.00
(-)	Sale Expenses Charged to Issuer	$	(3,000.00	)
=	Net Liquidation Proceeds	$	2,897,113.00
(-)	Class B Shares	$	(100.00	)
(-)	Class B Profit Share	$	(221,007.00	)
=	Distributable Proceeds to Class A Shares	$	2,676,006.00
(/)	Total Class A Shares Outstanding		89,599
=	Distributable Proceeds per Class A Share	$	29.87
(/)	Initial Offering Price per Class A Share	$	20.00
=	Multiple on Invested Capital (MOIC)		1.49
	Offering period
	Cash Receipt Date		12/1/2021
(-)	Final Offering Close Date		9/15/2020
=	Days from final close to cash receipt		442
(/)	Days of year		365
=	IRR Period (in years)		1.21
	IRR Calculation
	MOIC		1.49
	IRR Period (in years)		1.21
	IRR		39.3	%