Oh, yes, it's THAT DAY: the Barneys warehouse sale! Our correspondent reports live from Chelsea.

8:04 a.m.: There's a decent line, but everyone's let in quickly. We got here closer to 7:30, and it was much more empty, but that didn't last long.

8:35 a.m.: Women's floor is crazy, but still not as bat shit as expected. The men's floor is typically Zen — though more people keep arriving. People are rapidly stuffing clothes into garbage bags. Lots of bra and panty spottings.

8:44 a.m.: It's almost impossible to get inside the shoe aisles. So crowded!

8:56 a.m.: Everyone's raving about the clothes: Balenciaga floral dress for $869, originally $3,475. L.B.D. by Narciso for $329, marked down from $825. Marc by Marc Jacobs white-fur-collar jacket going for $59, originally $248.

9:11 a.m.: Finally infiltrated shoes: We've got Margielas, originally $725, going for $290. Oh my God: a $200 pair of Alais spotted.

9:16 a.m.: Also, it's like 100 degrees in the women's section. Sure, it's August and we're all in shopping heat, but this seems extreme.

9:25 a.m.: People don't seem too excited about the bag selection...