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This 24-Carat Gold-plated Goldgenie Bike Sells for $390,000. Forget Ferrari

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A bike fit for King Midas is now available for $391,017. The 24 karat gold-plated bike is available from Goldgenie.

Every single metal part of the bicycle, including gears and chains, are covered in the precious metal. The seats are also covered in limited edition soft San Marco suede saddle. The tires are SR4 racing tyres.

If that is not enough bling for you, the company also offers an option with diamonds embedded all over the frame for an asking price of $470,345.

Other optional extras are rumored to be exotic skins and leather to be used for the seat cover and handle bars.

Goldgenie has been in operation for over a decade. They specialize in gold-plated gadgets like iPhone and Samsung phones and tablets. The client list of the company includes celebrities like Victoria and David Beckham, Jaimie Foxx, and Sir Elton John.

The gold-plated bike is the company's latest offering. According to the official website, the bike is most certainly eye-catching and is a perfect "once-in-a-lifetime gift for yourself or someone truly special."

The actual bike used for the gold-plating process was not disclosed on Goldgenie's website, observers say that it is most likely a Giant Defy 3 aluminum framed road bike, which retails for $1,049 when not given the Midas Touch treatment.

Frank Fernando, Goldgenie's company director, maintains that the bike remains completely usable and light even if it is completely plated in gold.

"This men's bike is not only a work of art to admire, but also to enjoy riding if you dare and are brave enough to face the stares of astonishment. The set-up and design is that of a high-end racing bike and while it may not reach the speed of light, the artisans at Goldgenie believe in catching the light as you travel." he said.

However, with such a heavy investment on a golden bicycle, it's probably quite unlikely that anyone would be using it for their daily cycling or messenger runs.

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