Auction Theme Private Auctions

Hi There, Just wondering if anyone knows if there is a way for members or subscribers to set up their own virtual mini auction within the main auction site.
For example a member can setup an auction and keep adding new items under the same auction. Once they have set this up they can then notify friends etc to visit their auction listings under the main auction site. I imagine its probably something similar to ebay stores. Can the auction theme do this or should I be looking at other type of software.