A bicycle storage system has an apparatus with a collar within which a core member is rotatably engaged and a height adjustment rail system. A pair of locking arms is pivotally attached to the core member such that each of the locking arms has an open position designed to permit insertion or withdrawal of a bicycle wheel and a closed position designed to block withdrawal of the wheel. Rotation of the core member locks the locking arms in the closed position. Bicycles of various sizes can be stored in the apparatus mounted on the height adjustment rail system by inserting the front wheel into engagement with the locking arms, rotating the front wheel from a substantially vertical plane to lock the locking arms in the closed position, and elevating the front wheel above the rear wheel by moving the apparatus along the rails of the height adjustment rail system.