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Pricey purses! Mary-Kate and Ashley Olsen flash $60,000 worth of luxury handbags between the two of them as they step out in NYC

Published: 13:51 EST, 18 May 2016 | Updated: 18:18 EST, 18 May 2016

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Mary-Kate and Ashley Olsen sure like the finer things in life.

The 29-year-old twins were spotted toting similar black alligator-skin bags from their own design label, The Row, when they stepped out in New York City on Wednesday.

Together the purses retail for $60,000. The median household income in the US is $51,000.

Fancy pair: Mary-Kate and Ashley Olsen were spotted toting similar black alligator-skin bags from their own design label, The Row, when they stepped out in the Big Apple on Wednesday

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The sisters were dressed similarly in dark ensembles as they carried their comparable large alligator-skin handbags which retail for around $30,000 each.

Despite the hefty price tag, the expensive purses surprisingly appear to be sold out online at exclusive high-end retailers for The Row.

Ashley's alligator accessory dangled by a long strap as it hung on her arm, while Mary-Kate toted hers in hand.

The famous fraternal twins emerged into the brisk morning looking chic and business like.

Lavish look: The 29-year-old fraternal twins were dressed similarly in dark ensembles as they carried their comparable large purses which retail for around $30,000 each

Ashley donned an ankle skimming black skirt which she paired with a navy pin-stripe blazer.

She teamed the lavish look with black heeled mules and wrapped up in a mustard colored silk scarf.

The fashion designer also wore a pair of gold statement earrings and coordinating dainty rings on her hand which held a bottle of water.

While Mary-Kate dressed her petite frame in black trousers and covered up in a long black overcoat.

She finished off her equally posh outfit with what looked like The Row's Ava Mary Jane flats. The velvet shoes feature a buckle strap and retail for nearly $1,000.

The sisters donned minimal make-up and both covered up behind chic sunglasses.

Luxe fashionista: Ashley donned an ankle skimming black skirt which she paired with a navy pin-stripe blazer. She teamed the chic look with black heeled mules and wrapped up in a mustard colored silk scarf

Ashley's hair was styled up in a middle-parted messy bun, and Mary-Kate wore her similar hued tresses down in a natural wave which cascaded past her shoulders.

This comes soon after the pair were spotted on Sunday with Mary-Kate's husband, Olivier Sarkozy, as they put the final touches on their first East Coast store for The Row. The boutique will soon launch its grand opening. The flagship storefront is located on the trendy Melrose Place in Los Angeles.

In addition to The Row, the multi-talented duo also co-founded the luxury fashion brand Elizabeth And James, and the more affordable lines Olsenboye and StyleMint.

In February, the twins revealed to WWD that they are opening their first Elizabeth And James store in July. The 3,000-square-foot boutique will be located at The Grove in Los Angeles.

Fashion empire: In addition to The Row, the multi-talented duo also co-founded the luxury fashion brand Elizabeth And James, and the more affordable lines Olsenboye and StyleMint. They attended the Met Gala in May in NYC