GRAND RAPIDS (WZZM) - It is official. We have given up our world's record for the most fake mustaches.

Grand Rapids' Gilda's LaughFest team paid up on their friendly wager with Fairfield Iowa's Cirque de Fairfield by posing for a group photo in their festival t-shirts today.

LaughFest had the previous record for most people wearing fake mustaches with 1,532 during the comedy festival in March. Fairfield broke that record July 26 by having over 2,000 people wearing fake mustaches.

"While it is tough for LaughFest to give up our title, we are glad to know it is going to a community that is also known as one of its state's 'economic superstars'. As a current record holder of two additional Guinness World Records, we know the work that goes into attempting such a feat," said Wendy Wigger, president of Gilda's Club and LaughFest ina press release. "We extend our sincere congratulations to the Cirque de Fairfield supporters. We are glad we could all have a smile and a laugh together."