After its release,
The Vault: Old Friends 4 Sale received generally mixed reviews from
music critics. In a fairly positive review,
Stephen Thomas Erlewine of
AllMusic called it "an unassuming, jazzy little record that's damn near irresistible." Erlewine suggested that the tracks were comparable to the material found on
Graffiti Bridge (1990).
Entertainment Weekly's Marc Weingarten appreciated the album, stating that it "sounds more committed than a lot of his indie releases"; however, Weingarten noted that Prince fans would enjoy the album more. In a mixed review, Mark Zeltner of
PopMatters enjoyed songs "Extraordinary" and "It's About That Walk", but criticized the record's "lack of a cohesive musical theme", also calling the track listing "a series of songs that were forgotten or discarded long ago by their creator." A reviewer from
Mojo was more mixed with the album, calling it "pleasing though predictable". Keith Phipps, writing for
The A.V. Club, was disappointed by the album, blaming Warner Bros. for the "none-too-generous selection of material". Similarly, a critic from
NME found the songs to be "mediocre", also noting that Warner Bros. takes "revenge on their erstwhile slave". == Commercial performance ==