The Ikea hacker blog has a pretty slick bike rack for a lot less than many commercial bike racks.  They’ve hacked an Ikea Stolmen post to turn it into a two-bike indoor rack (although, this could be used in a garage as well, I suppose).  The parts for the rack will cost around $60, and take about a 1/2 hour to build, depending on your skills.

From the blog:

he says, “there are a lot bicycle storage/rack-systems on the market, but none of them met my expectations in function/style and price. i wanted to get 2 bikes on a wall in my apartment.

The original design is here, and the newly modified design for carpet here.

All-in-all a pretty neat idea, that could save some money, and space.