Using only kosher or sea salt, sprinkle about 1/2 to 1 tsp of salt on each side of a 1″-1.5″ steak and set aside. After 30 to 45 minutes, rinse all the salt off and thoroughly dry each steak with a paper towel. Season with fresh ground pepper and apply a thin coat of oil to each side. No more salt should be added to the steak (enough is absorbed during the earlier salting process). Place a cast iron skillet in an oven while it preheats to 500 degrees.
Move the iron skillet to a stove burner over high heat. Add the room temperature steaks to the skillet and sear for 30 seconds. Flip the steak and sear the other side for 30 seconds.
Move the skillet to the oven and cook for 3 minutes. Flip the steak and return to the oven for another 3 minutes. Transfer the steak to a plate and loosely cover with foil while it rests for 5 minutes.
More info on the salting method can be found here:
http://steamykitchen.com/blog/2007/08/28/how-to-turn-cheap-choice-steaks-into-gucci-prime-steaks/