The San Francisco Museum of Modern Art has announced plans to sell a painting by Mark Rothko and use the proceeds to diversify and address historical gaps in its collection and enhance its holdings of contemporary art.

Following a review of its holdings, the museum has decided to auction Rothko's Untitled, 1960 — which has not been exhibited since 2002 — in May and use the proceeds to purchase new works as well as establish an endowment fund for future acquisitions. 

"SFMOMA is very fortunate to have rich holdings of Mark Rothko, including his undisputed masterpiece No. 14, 1960, which was acquired in the late 1990s as the result of another strategic deaccession," said Gary Garrels, Elise S. Haas Senior Curator of Painting and Sculpture. "The proceeds from the sale will allow us to make great strides advancing our mission to diversify the collection."

"From our founding in 1935, we have consistently developed exhibitions and collected works of art of the highest quality — pushing boundaries, embracing fresh ideas, and creating new ways of looking at our world," said Neal Benezra, Helen and Charles Schwab Director of SFMOMA. "We will sustain our commitment to excellence and innovation by approaching our programming and collection with the same creativity and future-focus as the artists with whom we work. With a spirit of experimentation, diversity of thought, and openness to new ways of telling stories, we are rethinking our exhibitions, collections, and education programs to enhance accessibility and expand our commitment to a global perspective while sustaining our dedication to Bay Area and California art."