The distinction between sets and proper classes has interesting ontological consequences.
One way to define a proper class, in the context of set theory, is to state that it is not an element (in, in a set). As a consequence, if c is a proper class, $\neg\exists x(x=\{c\})$. If we take an object to exist just if it is an element, it follows that proper classes do not exist.
Nevertheless, we may quantify over classes. If e.g. R is Russell's class $\{x|x\notin x\}$, we have that $\exists x(x=R)$; but $\neg\exists x(x=\{R\})$. One may say that Russell's class subsists, but does not exist.
Do "empty names" behave similarly, so that e.g. Sherlock Holmes subsists, but does not exist?
Does the element-strategy have noteworthy advantages? Has it been explored in the literature?