It’s a fantasy we all share: Somewhere down an alley and up some dark stairs, there’s an adorable trove filled with racks upon racks of clothing and accessories made by amazing designers — all selling for 85 percent off and presided over by incredibly nice people.

Fantasy? Nope. Click your heels twice, Dorothy. You’re going to a magical place.

The Circle. Hidden in the Neutra office building in Silver Lake, the place is brimming with back stock and samples from Mon Petit Oiseau, Trina Turk, Lockets, Farrah Dragon Cashmere, Edward An, and Kata Eyewear (to name just a few of the designers spotted on a recent trip). And, yes, the prices are insanely low.

Surprised? Don’t be. Nobody pays retail in Oz.

The Circle, 2379 Glendale Boulevard, at Silver Lake Boulevard (323-665-5336).