Festival organiser Geoff Hunt said the festival would have meant a "significant" financial boost for the community. It also raised $10,000 for local biking clubs, the Cure Kids Club and the Wakatipu Trails Trust.
The festival, which was blessed with good weather, started with the six-hour Super D endurance race, and since then, has involved a range of events, such as coffee rides, movie nights, as well as large-scale, serious biking events.
It culminated in Sunday's Corona Dirtmasters downhill mountain-biking event, which had riders flying down the Brecon St steps in the middle of town after they had plunged down Ben Lomond from the top of the Gondola.
The Tour De Wakatipu cross-country event attracted 700 riders - 150 down on last year - while the inaugural downhill race drew 78 competitors.
