People would inflate their minimum bid prices to increase their status, and so everyone would be expensive to contact. So no one would use the site for recruiting.
The ranking wouldn't be based on the minimum bid, it'd be based on the amount recruiters actually pay. If the min bid is $1000 but no recruiters pay it, then the applicant would be at the bottom of the rankings.
What if there was no status per se or what if status was based on "tests" of some sort and independent of pricing?
Elance does the testing method, but it isn't too successful.