Exhibit 99.1

Masterworks 032, LLC

	Gross Artwork Sale Proceeds	$	2,700,000.00
(+)	Cash on Balance Sheet	$	110.00
(-)	Sale Expenses Charged to Issuer	$	(4,400.00	)
=	Net Liquidation Proceeds	$	2,695,710.00
(-)	Class B Shares	$	(100.00	)
(-)	Class B Profit Share	$	(156,022.00	)
=	Distributable Proceeds to Class A Shares	$	2,539,588.00
(/)	Total Class A Shares Outstanding		95,775
=	Distributable Proceeds per Class A Share	$	26.52
(/)	Initial Offering Price per Class A Share	$	20.00
=	Multiple on Invested Capital (MOIC)		1.33
	Offering period
	Cash Receipt Date		2/22/2022
(-)	Final Offering Close Date		3/26/2021
=	Days from final close to cash receipt		333
(/)	Days of year		365
=	IRR Period (in years)		0.91
	IRR Calculation
	MOIC		1.33
	IRR Period (in years)		0.91
	IRR		36.2	%