New York City is all a-Twitter about the opening of its first Costco Warehouse Shopping Club on East 116th Street.

But aside from mayo large enough to dress every sandwich in Manhattan, there's another (and more important) reason to flock to Costco -- Chanel and Louis Vuitton handbags!

The new location currently has Chanel Classic Flap handbags available for $1,999, though the salesperson, a man, was not sure what sizes were available (baby, small, medium, large or jumbo). These regularly sell anywhere from $1,795 to $2.495.

However, he did say that earlier today they sold out of Louis Vuitton Speedy bags, regularly priced from $665 to more than $3,000, all three going for $589 a pop. But there are currently "a lot" of Burberry and Coach bags, he said.

So, what else is in stock? Burberry's mini satchel for $1,019.99, Tod's medium shopper handbag for $549.99 and a Ferragamo "Marissa" handbag for $629.99.

Just getting access to these deals make the $50 membership fee seem like chump change.

Reps from Chanel and Louis Vuitton did not return calls for comment.

Want to know which bag to buy? Read Oprah's shoe and handbag tips.