Carol Vogel reports that Dia is culling from its collection to raise an acquisitions fund. The works will be sold through Sotheby’s:

The Sotheby’s sale will include 14 works by Twombly from the 1950s, ‘60s and ‘70s, including “Poems to the Sea,” a suite of 24 drawings from 1959 created when the artist moved to Sperlonga, a fishing village between Rome and Naples. “Poems” is expected to sell for $6 million to $8 million.

Chamberlain has been crucial to Dia since its founding in 1974. “Dia has about 100 Chamberlains, and even after the sale we will still have among the largest and deepest representation of works by him,” Mr. Vergne said.

Among those being sold is “Shortstop,” from 1958, one of the artist’s first sculptures fashioned from crushed automobile parts. It is estimated to bring $1.5 million to $2 million.

Dia has also decided to sell its only Newman, “Genesis — The Break,” a 1946 abstract canvas that is a precursor to the artist’s so-called zip paintings, which feature feathery bands of contrasting color. It is estimated at $3.5 million to $4.5 million. (Dia tried unsuccessfully to sell “Genesis — The Break” before, in 1985, to raise money for an endowment.)

Dia Foundation to Sell Works to Start Acquisition Fund (Inside Art/NY Times)