Brendon McCullum admitted Australia were worthy World Champions after New Zealand succumbed to a World Cup Final defeat against their Trans-Tasman rivals.
The Black Caps had won a thrilling encounter between the two nations by one wicket earlier in the tournament, but were under pressure from the moment Mitchell Starc clean bowled McCullum with the fifth ball of the match.
New Zealand were all out for 183 in 45 overs before Michael Clarke, in his farewell One-Day International, spearheaded Australia's successful run-chase with a 72 ball 74.
"It's been one hell of a ride for us," McCullum said. "Right the way through we played some outstanding cricket.
"We ran into an outstanding Australian team tonight who continue to set the way in international cricket.
"Credit to them, they're deserved champions and Michael Clarke deserves to bow out a World Cup winning champion."
The New Zealand captain conceded that the drama had very much strayed from the script in that first over but, after recovering to 150-2 prior to their middle and lower order collapse, he insisted there had been chances to get back into the contest.
"It all unfolded not as we'd planned, but we still got ourselves back in the game at 3-150. As Australia do, they came back at us again and they put us under a lot of pressure to take 7-30.
"Defending 180 we still dared to dream and - if we had a couple of things go our way - who knows how it would have ended up?
"In the end we were the second best team on the day so credit to Australia."
New Zealand had been famed for their aggressive approach in winning eight out of eight fixtures prior to the final - and although the tactics very much backfired on this occasion, McCullum has no regrets.
"This is the greatest stage you can ask for as a cricketer," he said.
"We've had the opportunity as a group of guys to go on this ride and we've forged some friendships and memories that will last forever.
"We weren't able to lift the trophy but the brand of cricket and the entertainment we've been able to give people, throughout our country but also throughout the world, is something we're immensely proud of.
"We have no regrets and we walk away from this tournament with our heads held high.
"It was about representing our country on the international stage and putting our skills against the world's best. It was the greatest time of our lives.
"We played with a free spirit and plenty of heart all along. It took us so far in this tournament, obviously we weren't able to get over the final hurdle.
"We've still got some work to do, but we can be very proud of our achievements."
Trent Bridge hosts the fourth Royal London One-Day International between England and New Zealand on Wednesday 17 June. Don't miss the chance to watch England seek redemption against the Kiwis and secure your seat now.