Amazon has the Racor PBH-1R ProStor Bicycle Hoist Monster on sale for $16 with free shipping on $25. Shipping alone is $7. Store your bike safely from the ceiling of your garage. Solid steel construction delivers a 55-pound load capacity.
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This exact item is $6 on sale at Menards and Harbor Freight on a regular basis. $16 is overpriced.
I can't figure this out except to keep rats from gnawing on the tires. If you hoist it to the ceiling the space below is not conveniently usable since you have to lower the bike to get to it, while if you put the bike on the floor with shelves above then everything is fairly handy. I suppose with a high garage ceiling and a low sportscar you could park the bikes over the car hood - if you want to move the car to get to the bikes. I realize that some garages are small enough to need this sort of accommodation, but other methods for storing bikes hold them pretty tight to a wall or corner, often vertically, where they are pretty much out of the way yet still convenient.
I actually have four of these hanging in my 3-car garage. The garage has 12' ceilings, so to h5678's point, that definitely is a factor. I use two for adult bikes, which hang just to the side of a vehicle. So the space is open to walk by the car when the bike is up in the air. And I use the other two to hang extra stuff during the winter, like strollers, kids' bikes, etc. They work pretty well and help utilize what otherwise would be wasted space.