Sears.com has the Racor PBH-1R ProStor Bicycle Hoist Monster on sale for $15 + $5 shipping = $20 shipped. Store your bike safely from the ceiling of your garage; Solid steel construction delivers a 55-pound load capacity.
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makes a great place for the rug rat's time out!
$7.99 at Harbor Freight and crappy quality. Bought 3 - installed 1 and ended up returning all 3. It does work but the rope is the cheapest quality and would not trust it on top of my car. Also, when you lift the bike, it does not go straight and it is very easy to slip off the hooks as they really do not grab on that good.
I installed 2 of these in my garage a couple years ago and both work flawlessly. If they're attached to a ceiling joust/stud you shouldn't have any concern. Yes, the bikes tilt a little when lifting off the ground if there's a weight imbalance between the front & rear of a bike (which is to be expected, more imbalance yields more tilt effect), but it straightens out when it reaches the ceiling. When unwinding you don't get the tilt issue because the rope should have been made snug when you lifted up the bike. It sounds like a lot but is very straightforward in practice.
You definitely have to make sure that you follow the directions EXPLICITLY. If you don't you can't get the bike back down. So don't screw this into the roof decking. Ensure it's level. XBMCdotORG is correct. Also Menards (if you live in the midwest) has these for around $12 - but you will have to go into the store.