Designer Barbies for $500 and up?! At least it's for charity

The Barbie Loves Fashion's Night out Tracy Reese doll wears a miniature designer outfit
Photo by: CharityBuzz.com
The Barbie Loves Fashion's Night out Tracy Reese doll wears a miniature designer outfit-
Calling all Barbie collectors! This fall, Mattel partnered up with the Council of Fashion Designers of America (CFDA) and Fashion's Night Out for a batch of one-of-a-kind designer Barbie dolls. Five designers including Tracy Reese, Alice + Olivia, Loomstate, Rogan, and Alexis Bittar each created miniature Barbie outfits based on garments from their Fall 2011 collections for a good cause. These five dolls are all up for auction on CharityBuzz with starting bids of $550. All proceeds will go to the CFDA Foundation Inc. Scholarship Programs in hopes of inspiring budding fashion designers around the world. It's hard to imagine spending $500 on a REAL outfit, let alone for a doll, but supposedly their estimated value is $3,000 a piece. C'mon, seriously?!

We know there are some hard core collectors out there willing to spend big bucks for an extremely limited Barbie, so if you're one of them, head over to CharityBuzz.com before the auction's end on Tuesday, October 11. Check out all the pics right here. First up: the Tracy Rees