And Spain's 1-0 victory over the Netherlands meant the All Whites became "The Unbeatables", as the the only unbeaten side in the tournament.
The University of Otago common room and inner-city bars were packed for the final in Johannesburg, while the Terrace Bar even had an indoor grandstand, filled with about 200 colourful, passionate, vuvuzela-blowing fans.
Spanish biology student Rodrigo Villarino (22), of Madrid, had only been in Dunedin for a week and saw his country win the World Cup for the first time.
"It's amazing. The first time we do it and I am here in Dunedin, in New Zealand," he said.
"This is incredible for Spain. Everyone at home will go insane.
"People will gather in the streets to celebrate. People will be going crazy."
However, it was a different story elsewhere.
Dutch supporter Ryan Priemus (35) was inconsolable at the final whistle.
"I'm absolutely gutted. I really thought we'd win," he said.
"It's our third time in the final and we'd been unbeaten the whole tournament.
"I even took a day's annual leave, so I could celebrate.
"Well, that was the plan ..."
Despite the time-zone difference, the World Cup in South Africa had been a big hit in Dunedin, Terrace Bar owner John MacDonald said.
"It's been really busy all tournament and the grandstand has been packed out every game.
"We've had all nationalities here, and most games there have been two sets of supporters which makes a great atmosphere," he said.
"The All Whites games were really, really busy, but it even continued after they were knocked out."
