Looking to get rid of a domain name you have no use for anymore? Maybe the Web site crashed and burned and you want to make some of your money back? HostSearch.com is reporting that AIT has opened a new domain name auction Web site.

Web host AIT has created an online domain auction service with the registrar being paid based on the size of the transaction at the conclusion of the sale. The service was created, according to AIT, for the bulk registrations and speculation business.

“This auction service makes it easy to sell or buy, with absolutely no fees until a domain is sold,” said Beau Garcia, VP / Business Development for AITDomains.com. “This is the industry equivalent of the stock brokerage shop that does not charge hefty fees for simply walking in the door.”

Auctions for domain names will stay open as long as the seller wishes. Domain name owners can also set the price on the domain, so that nothing is sold before the price is met. Domain name bidders are given a 24 hour warning when an auction is about to end as well. Sounds like they have just about everything in place.

Want to go check it out or sell your own domain? Visit AITDomains.com and let me know what you think!