A friend of mine is currently trying to sort this problem by creating OnSite (http://onsite.io/), it's not live yet but it's one to keep an eye on for the future.
OnSite aims to eliminate the race to the bottom by removing project bidding from the process. Results returned are based on skills, location and availability (among other metrics). Rates can be entered by the hirer, but act simply as a guide, don't exclude results and aren't visible to the matched freelancers. In addition all freelancers are manually approved and profiles need to be 100% complete before becoming visible on the system.
Doors open in a couple of weeks as we start to roll out invites. Currently we are only accepting applications from verifiable agencies / studios / start-ups, not individuals looking for extra help. http://onsite.io/apply/agency.
If you are a freelancer, you can apply here: http://onsite.io/apply/freelancer (you will again need to be verifiable with online examples of your work to be considered).
Cheers.