DNX.com facilitates reverse domain name auctions.
DNX.com (Domain Name Exchange) has formally launched in beta.
The domain marketplace is a joint venture between Media Options and Internet Media Pty.
DNX runs reverse domain name auctions, meaning the asking price for the domain name continually drops until someone buys it (or it hits the reserve).
Media Options is using DNX to help sell domains that it can’t sell through its normal channels. Here’s how the company describes it:
The basic idea is that a domain owner provides Media Options with a standard domain listing for 30 days, as they would with our Newsletter. During that 30 day period, Media Options will first list the domain name in our Domain Deals Newsletter at the asking price (as always). If we get bids we’ll bring them to the owner and perhaps close a deal. If we don’t have any interest from the newsletter, or if a bid is close but not quite high enough for the owner to accept, then we will enter the domain into an auction on DNX.com (auctions range from 3 days – 9 days and only the seller knows when it will end). It used to be that if a name didn’t sell in the newsletter and wasn’t suited for our end user brokerage, then it just went back on the shelf or the owner had to find another sales channel. Now, we give your domains a second chance with DNX! The auction will start at the asking price and then it will gradually drop the price by random intervals and at random lengths of time (the system will display to users when the next price drop will occur). The price will continue to drop until someone clicks the BUY-IT-NOW button, a previous offer is triggered by one of the blind proxy bids which an interested buyer has placed, or auction hits the reserve price.
There are currently 57 reverse domain auctions in progress on DNX.com.