Ukranian billionaire steel magnate and art collector Victor Pinchuk has commissioned a permanent installation by Danish-Icelandic artist Olafur Eliasson in the city where Pinchuk was raised.  The work will be installed in his Interpipe Steel Mill in Dnepropetrovsk, and will include a 60 meter high artificial sun, which will dominate the skyline of the city.  Dnepropetrovsk, Ukraine’s fourth-largest city, was previously a manufacturing center for ballistic missiles and only in 1991 opened to foreign visitors. (more…)

‪‬Ukrainian businessman Victor Pinchuk’s Future Generation Art Prize second biennial open to applications through May 6, 2012, with a prize of $100,000 and mentorship by artists Damien Hirst, Jeff Koons, Andreas Gursky, and Takashi Murakami [AO Newslink]

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The Hirshhorn Museum with proposed “bubble” in Washington, D.C. via Washington City Paper

A high-tech, futuristic design for a meeting hall in the Hirshhorn Museum at the National Mall in Washington, D.C., is making headlines this week across the art community. The proposed “bubble” would constitute dimensions of 145 feet and swell out like a balloon from the primary structure, inflating during the months of May and October and collapsing for the duration of the year. Advocating for the design, Hirshhorn Museum Director Richard Koshalek insists that it will not detract from the museum’s most valuable possession: its art [Washington Post].

Fernando Botero via Art Daily

Fernando Botero criticizes the art awarded by the $50K prize bearing his name, and the administrators of the prize decide to cancel it as a result [ArtDaily]

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Tacita Dean’s Christmas tree, ‘Weihnachtsbaum‘ at Tate Britain via Zimbio

The Tate has been embracing the Christmas spirit this week with a series of headlining seasonal happenings.  The Tate Christmas Tree 2009, “Weihnachtsbaum” designed by Tacita Dean, shocked critics by actually appearing “Christmassy”[Bloomberg]  This weekend, Tate Modern’s vast Turbine Hall was taken over by Rob Pruitt‘s festive ‘Flea Market’ – originally held at Gavin Brown’s Passerby gallery in New York in the late 1990s, this event was programmed to coincide with the Tate Modern exhibition Pop Life: Art in a Material World, in which Pruitt also appears [POP Magazine]

Italian police have seized works of art belonging to Carlisto Tanzi – founder of the Italian firm Parmalat who collapsed in a massive fraud scandal in 2003. The 19 paintings and drawings, included works by Picasso, Monet and Van Gogh, and is estimated to be worth more than 100million euros [BBC News]

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Antony Gormley’s Event Horizon that will appear in New York’s Madison Square Park in March 2010 via ArtInfo

Antony Gormley has announced plans to install 31 nude sculptures cast from his own body in and around Madison Square Park in Manhattan’s Flatiron District beginning March 26 [NY Times]

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Performa 09 party via Artinfo

-To benefit Performa 09, party designer Jennifer Rubell invites 600 guests to “Creation” held at X Initiative in Chelsea in New York, where 3,600 drinking glasses, a pyramid of unshelled peanuts and 2,000 pound hillock of honey-soaked ribs were among the excess of food being served (Performa 09/ Food for Thought) [The Moment]

-In related, To mark the start of Performa 09 MoMA invited Fischerspooner to stage a show (Performance Art Enters the Museum) [Artinfo]

-In related, At Haunch of Venison in New York Marina Abramovich, Leandro Erlich, Mickalene and Rob Wynn pair with NYC pastry chefs to create performances; cakes were served by topless models (Kreemart or Cream Art Performance at Haunch of Venison) [NY Art Beat]

-Bikes used by Lance Armstrong and with frames designed by contemporary artists fetch $1.3 million at auction in Sotheby’s, among them Damien Hirst’s sold for $500,000 (Armstrong’s Tour de France Bikes Fetch $1.3 Million at Auction) [Bloomberg]

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“Concetto spaziale, La fine di Dio” by Lucio Fontana via Christie’s

Highest-valued sale Christie’s has yet to auction during Frieze Art week will be a Lucio Fontana egg-shaped canvas estimated at $21.8 million [Bloomberg]
LACMA announces $55 million gift directed toward new pavilion amongst other endeavors from POM Wonderful and Fiji water owners [ArtDaily]
Street artist Kaws, now at Emmanuel Perrotin in Miami (as covered by AO here), collaborates on shoes with Marc Jacobs [TheWorldsBestEver]
An interview with Catherine Opie, whose work can now be seen at the Guggenheim [Artforum]
Ukrainian (not Russian, as cited in linked article) steel oligarch Victor Pinchuk announces Director for his new Kiev museum and that he was in fact a major buyer at Hirst’s Sotheby’s auction [ArtInfo]