I like this idea, but i think that it would be better to have it so you dont know what youre buying before you buy/know very little information. Kind of like the TV show "Auction Hunters" where you get to see a storage locker and everything that is within eyesight from outside of the locker, but you cant open any boxes or move anything around. I think it would work well if it gave a brief run down of items in the inventory. Something like "This inventory is for auction. It contains Blowtorch, C4 Explosive, Wood, Trash: Cereal Monster's Friend". This would make it more risky for people to sink actual money into it, and would result in people bidding low money for something that could be worth hundreds of millions, and people bidding millions for like 200k worth of items.
I also think that it should not tell you who's inventory it is, so instead of saying "Sticks' Inventory" it would say "This person has not played on the server for 4 years 3 months". This would add to it because if it says a name, you may recognize the name of someone who used to be filthy rich and probably has super expensive stuff so it would be basically only the super rich bidding on it.