Domain-Name Bidding Service Launched

Register.com Inc., the No. 2 reseller of Internet domain names, announced the launch of a service that allows individuals and companies to bid for any of the 20 million Web site addresses already taken. Afternic Virtual Broker will allow its customers to place anonymous bids on any Internet domain name ending in .com, .net or .org. Afternic Inc., which developed the service and was acquired by Register.com in September for $48 million, will take a flat fee of $100 for sales of less than $2,000 and a 5% commission on sales above $2,000. Register.com officials estimate about half of all domain names sit around unused by their owners. New York-based Register.com competes with Network Solutions Inc., which dominates the domain name area. Register.com shares closed off 13 cents at $6.56, and VeriSign Inc., the parent company of Network Solutions, fell $10.06 to close at $102, both on Nasdaq.