Hundreds of thousands of domain names that have been abandoned by their owners will be auctioned off if they are undeclared by their owners today.

US domain name registrar Network Solutions has set today (Wednesday) as the deadline for companies to settle their domain name bills. Domains not paid for, which include .com, .net and .org, will be auctioned via the web at an undecided date - not today as previously reported.

Network Solutions could be the internet sale of the century because a ceiling of just $35 has been set on each name.

Network Solutions has sought to downplay concerns that websites could drop off the face of the internet if ISPs or hosting companies, who commonly act as domain resellers, failed to pay a domain registration bill.

A spokeswoman from the company said the registration body was conducting an auction only of sites that had already been deactivated, and for which payment was "well past" the 30-day limit and missed today's deadline.

"We have a procedure for sending out multiple notifications. Deactivation is the last stage and we are now well past that with the domains we'll auction," she said. "It won't be a surprise for those people."

"Normally we'd open the registration again, but for the first time we've decided to do this by auction. We're being more proactive and listing what is available," she added.

According to Network Solutions, a variety of reasons lie behind the non-payment including people registering domains they do not subsequently use, cyber squatting and even people making registrations as a hobby. The company believes there is a growing secondary market for used domains that it is keen to open up.

Network Solutions sent out an email to domain administrators and its resellers, such as ISPs, which said: "If the domain name is not paid for, or is deleted by 28 June 2000, it will be entered on the NSI auction site. Any proceeds from the sale will be retained by NSI and the domain name will be transferred to the successful bidder."

Domain name administrators, who have received at least two notices, have until today to either pay in full for a domain name, elect to have it deleted or else see it go under the hammer. Network Solutions is refusing to reveal the web address for the auction site until it goes live.