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Pretty much any shopping cart system that has stock control (inventry control for US folks) will handle this. You limit the stock of each item to 1, then when the item is purchased have the cart hide it from view. If sold simply delete the record from your catalogue.
For reserving I'd adapt an offline payment method to do this, something that doesn't require the user to pay immediately. Once you receive the order you can follow up by email/phone to arrange payment.
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