The bond.com internet domain is to be auctioned off with a reserve price of $1m.

The auction ties in with the latest James Bond movie just around the corner, and the recent opening of the Ian Fleming and James Bond exhibition at the Imperial War Museum.

It is thought that bidding will easily exceed the reserve, setting up the web address to reach a record price.

The sale is being run by domain marketplace Sedo.com in its live Premium Auction Event.

"Short, simple and flexible, bond.com is a prime example of a domain name which is likely to exceed its seven-figure reserve," said Nora Nanayakkara, director of business development and sales at Sedo.

The auction opened on 17 April and interested parties have until 20:00 GMT on 24 April to make a bid for the iconic name.

Sedo said that, with many online property seekers battling to find suitable domain names in relevant areas, the secondary internet property market is taking off in leaps and bounds.

"The UK housing market may be in crisis, but domain names are proving to be lucrative online real estate," said Nanayakkara.

"Buyers with little or no technical knowledge have already recognised the most in-demand web addresses and are reaping serious profits."