Coming soon: $1 million motorcycle

It wasn't that long ago that the first $1 million car was news. Now, a two-wheel vehicle is about to hit seven figures.

Lauge Jensen recently sold what is believed to be the world's most expensive motorcycle.
Source: Lauge Jensen

Lauge Jensen, the Denmark-based maker of customized motorcycles, recently sold what is believed to be the most expensive bike (of current production) ever.

The motorcycle, called "Goldfinger," was plated with 24-karat gold and covered with 250 small diamonds totaling more than 7 carats. The seat is upholstered with what the company calls a "unique cognac-colored crocodile skin" and the bike's parts859 of themwere individually gold-plated by hand.

It was shown at special events in Monaco and Dubai, before a private buyer snapped it up.

The sale price: $850,000.

Uffe Lauge Jensen, the company's founder and chief creator, declined to comment on the buyer or even the buyer's country. But he said there were many buyers interested in Goldfinger despite the price.

"It was very popular," he said.

Detail of Lauge Jensen's "Goldfinger" motorcycle. The company said the bike's parts—859 of them—were individually gold-plated by hand.
Source: Lauge Jensen

But Lauge Jensen said he's already working on something bigger. Though he's vague on specifics, he said he's working with a customer on a motorcycle that could easily top $1 million. Basically, he said, it's a piece of jewelry on two wheels.

(Read more: Most valuable motorcycles)

"It's going to have a lot of stones and diamonds," he said. "We're talking pretty wild stuff."

While the project is still in the planning stages, he said the price will "easily" top $1 million. Suddenly, Ducatis look cheap.

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The seven-figure cycle is just the latest sign of soaring prices at the very top of the motor world, especially for high-performance customized rides.

It was only in 2005 that the world saw its first $1 million-plus production car, the Bugatti Veyron. Since then, several new cars have topped the million mark and some—like the Lamborghini Veneno—even top $4 million.

—By CNBC's Robert Frank. Follow him on Twitter @robtfrank.