FUSU.com, announced today that it was entering the ever growing community of sites hold domain auctions.

Their auctions will have only a 1% sales fee.

Here is the full press release:

Dear Fusu users,

we are happy to announce the introduction of domain auctions to Fusu.
Fusu Auctions allow you to list your domains for sale and gain exposure to
the Fusu community of domain investors. We have two auction formats:

* Anyone can list a domain for a Standard Auction. Fusu does not require
domain ownership verification in this case, nor process payment, but
provides just the auction platform. We charge 1% of the reserve price.
* For Premium Auctions, Fusu verifies the domain ownership and acts as
escrow agent for the payment and transfer. The domain owner can choose
whether to hold the auction as pre-paid (the bidders have to transfer
funds to Fusu before they can bid) or post-paid (the winning bidder pays
after the end of the auction through Fusu). In both cases, Fusu charges
its signature 1% fee to the winning bidder and to the domain owner.

We hope that the new Auction system will add further liquidity on both
ends of the market spectrum: On the low end, small, lower volume auctions
so far were typically handled through forums. The Fusu Standard Auction is
a cost effective and easy way to hold an auction. For high end auctions,
where payment and transfer security is paramount, the Fusu Premium Auction
introduces for the first time in the industry pre-paid auctions,
effectively eliminating the risk of bidders not following through on their
wins.