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Tate Modern director Nicholas Serrota, Christie’s owner Francois Pinaut, megadealer Larry Gagosian, and the princess of Monaco are among the 300 carefully selected guests expected to attend the one-day event, which includes an exhibition of archival materials related to the museum building and a live concert by Amy Winehouse, who is reportedly being paid $2 million for the show.

The CCCM is one of post-Soviet Russia's most ambitious art projects. Dasha Zhukova, the girlfriend of Russian billionaire collector Roman Abramovich, spent an undisclosed sum on renovating the “Bakhmetievsky” garage by Konstantin Melnikov, one of Russia's most important avant-garde architectural masterpieces, and converting it into an exhibition space. The CCCM's curator will be British-born Mollie Dent-Brocklehurst, who opened an exhibition of outdoor sculpture in her family castle Sudeley, in Gloucestershire, England, last year, and has also served as the director of Gagosian gallery in London.

CCCM opens to the public in September, when it will co-host along with three other venues a retrospective of Russia’s most famous artist — Ilya Kabakov.