Watch out Lance Armstrong—50 cyclists will hit the streets of Cambridge this week on wheels purchased Saturday at the annual Phillips Brooks House Association (PBHA) Bike Auction.

The auction, the proceeds of which will go to support the many public service programs of PBHA, raised $3,541, exceeding the originally projected $3,000.

Fifty-two bikes, from a tiny, pink tricycle to “one sturdy Schwinn,” were appraised and priced before the auction by PBHA student officers and Juan C. Agudelo ’03, co-founder of Quad Bikes, the non-profit, student-run bike shop that opened in the Quad last month.

“We look for the original quality of the bike and its current condition,” said Agudelo in reference to how the bikes were priced.

Starting bids ranged from $25 to $140.

Buyers offered various reasons for buying a bike at the auction.

Sasha R. Harris-Lovett ’07 was unable to attend the auction, but placed an absentee bid before leaving.

“I want to explore Cambridge and not just Harvard Yard,” she said. “You can go on foot, but you can go faster and farther on a bike.”

Athletes like Devin Lyons-Quirk ’05, who participates in track and field and lives in the Quad, often use bikes to get to practice across the Charles River.

Lyons-Quirk said he was looking for a more reliable two-wheeled friend.

“I already have a bike, but it’s a deathtrap,” he said.

Although most of the bikes were in rideable condition, Agudelo noted that many of them would need some repair work—a detail that did not go unnoticed by some more critical shoppers.

“I thought the bikes would be a bit newer,” said Thor W. Theunissen ’07.

Theunissen chose not to attend the auction after the viewing and said he may shop for a new bike at Porter Square.

The bidding began at noon with PBHA Executive Director Gene A. Corbin as the auctioneer.