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Armstrong’s Tour de France Bikes Fetch $1.3 Million at Auction

By Alex Duff

Nov. 3 (Bloomberg) -- Seven bicycles used by Lance Armstrong in his comeback season for July’s Tour de France fetched $1.3 million at an auction to raise money for his cancer foundation.

The bikes, with frames designed by artists including the U.K.’s Damien Hirst, sold at Sotheby’s in New York two days ago, the Livestrong charity said in a statement today. The buyers weren’t disclosed.

The bike designed by Hirst featuring dead butterflies fetched the most, $500,000, the statement said. A time-trial bike stolen from Armstrong’s team truck in February during the Tour of California fetched $130,000. It was recovered by police after three days.

“This auction exceeded our expectations and we owe an enormous debt of gratitude” to those involved, Armstrong said in a statement.

Armstrong, who survived cancer before winning the Tour de France seven times, finished third on his comeback after a four- year absence. Spain’s Alberto Contador, his Astana teammate, won the race for a second time.

“Parting with these bikes was not easy for me,” Armstrong said. “I have a tradition of keeping each of the bikes I race.”

Among Hirst’s work is a diamond-crusted skull and cow preserved in formaldehyde. He raised 111.5 million pounds ($182 million) in a sale of his art at Sotheby’s London in September last year.

To contact the reporter on this story: Alex Duff in Madrid at aduff4@bloomberg.net.

Last Updated: November 3, 2009 04:35 EST

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