Top British musical talent including The Who, Ray Davies, Queen, The Spice Girls and the Kaiser Chiefs provided the sound track.
But one of the loudest cheers of the night was reserved for Coe, the double Olympic gold medallist who fronted the bid team and organising committee for more than eight years.
“We lit the flame and we lit up the world,” he said.
“The British people got behind London’s bid and they got behind London’s Games. These were a Games by everyone.
“London 2012 has played host to some incredible sport. To all Olympians who came here to compete – thank you. Those of us who came to watch witnessed moments of heroism and heartbreak that will live long in the memory.
“This is the end of two glorious weeks but what we’ve begun will not stop now.
“The spirit of these Olympics will inspire a generation. We can see what tenacity, ambition and imagination can do. We know more now as individuals and a nation what we are capable of.
“When our time came, Britain, we did it right.”
International Olympic Committee president Jacques Rogge, presiding over his last Games as he prepares to end his 13-year stint in office next year, hailed “17 unforgettable days”.
And borrowed a line from the British national anthem to dub the past fortnight “happy and glorious”.
© Sportsbeat 2012