I recently found myself in the position of wanting to register a domain which was owned by someone else. The domain was set to expire in a week, and I figured there was a decent chance that the person who owned it wouldn’t be renewing it. Upon consulting the WhoIs registry on the current owner, I discovered the guy was a bit of a domain shark and didn’t seem to be around anymore.
So I placed a backorder through GoDaddy for $18.95 thinking that was all I needed to do. During the week that followed, I learned a lot about the domain expiration process. Two and a half months and $369 later, I am the proud owner of a shiny new domain. A really really good one.
This article will explain the domain expiration process and what you need to do in order to use it to your advantage.
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Mike Davidson - How to Snatch an Expiring Domain