By Liz Hobday

The most expensive artwork commissioned for Australia’s national collection has been drawing curious crowds day and night.

Lindy Lee’s sculpture Ouroboros is visible some distance from the forecourt of the National Gallery of Australia in Canberra, where it was unveiled on Thursday.

While the artwork’s stainless steel surface is reflective by day, at night it looks very different, radiating light through more than 45,000 holes cut into its curving structure.

Canberrans Jodie and Greg cycled to the gallery to be among the first to get a glimpse of the artwork at night.

“It’s unbelievable, spectacular, my daughter’s getting married in a couple of months and we’ll be coming here to get a couple of photos,” Greg said.

But was it worth the $14 million price tag?

“It’s the nation’s capital, Australia’s national gallery, if you’re going to spend it, you might as well do it here,” Jodie said.

“I’d rather they spent $14 million on bike tracks, but that’s just me,” joked Greg.

The sculpture is installed above a shallow pool and Sydneysider Helen Sanderson loved seeing its reflections in the water.

“I think it’s worth it, if they are spending billions on submarines, they can spend a bit of money on art,” she said.

There were a number of factors behind the cost of the artwork, with about 200 people spending a total of about 60,000 hours on the project.

Designers, pattern makers, metal casters, welders, technicians, polishers and even crane operators were among the skills needed to complete the sculpture.

Part of the challenge was that Ouroboros was designed with no internal supports, so international engineers were needed to determine whether it would be structurally sound.

On top of this, the metal would be weakened by thousands of holes, not to mention that the 13 tonne structure is installed on water, with limited space for support underneath it.

Those who step inside the gallery will find an exhibition dedicated to the artist, including a smaller version of Ouroboros titled Abundance, made of gold worth $10 million.

While Ouroboros isn’t going anywhere, this smaller version is on permanent loan to the gallery and will tour Australia in 2025.

Across works in paper, gold and steel, the display shows how Lee burns and cuts holes in an act of Buddhist faith, explained curator Deirdre Cannon.

“Burning and fire symbolises the burning away of delusions,” she told AAP.

“It’s an attempt to fight through the propaganda of the things that we tell ourselves in our lives to arrive at a truth.”