At last night's Lance Armstrong Foundation Gala in the Waldorf-Astoria hotel in New York, $4.7m was raised for LAF's advocacy, public health and research programs. The bike adorned with gold and man-made yellow diamonds sold for $75 000, making it the world's most expensive bicycle.

Diamond-studded Trek sells for $75 000

One for the wall, not the street, then.

The bike was bought by "an anonymous donor," Stephanie H. Elsea, associate director of PR for the Lance Armstrong Foundation told

Decorating the bike was the idea of a customer of Richardson Bike Mart in Texas, the bike shop that sold Lance Armstrong his first road bike and helped him start his cycling career.

A Madone 5.9 SL was donated by Trek and jeweller Alan Friedman manufactured a ‘Diamond 7’ plaque which was affixed to the front of the bicycle. The plaque is made in 14K white and yellow gold and contains seven one-carat intense vivid yellow handmade-in-the-USA Gemesis diamonds, each representing one of Armstrong’s Tour de France victories.

Richardson Bike Mart started a shop-sponsored cycle team in 1983. Lance Armstrong – who lived across the street from the store – bought his first road bike from Jim Hoyt, owner of Richardson Bike Mart, and joined the shop team in 1987 as a junior, his first ever cycling team.

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