This idea is similar to the Most Expensive Stereo In The World idea. It’s an exclusive auction site where you can’t just sign up, you have to be invited based on your bank balance. Through this auction house exclusive items are auctioned – one of a kind pieces. There is no concept of a handle either, when you get signed up, you have to use your real name.
So for example Gucci auctions off a one of a kind dress made for a Milan fashion show. And it goes for a million bucks and Paris Hilton bought it. For the suppliers, it cuts out the riff raff and gives them a direct link to the rich, for the rich it gives them exclusive items which they can show off to their rich friends (who are also on the auction site).
You’d probably call it ExcluBay or something. Or OneOfAKindAuctions.