Just before Christmas I accidentally allowed one of my domain names to enter the "redemption period", a time during which it can only be renewed by paying an extra fee (a rip-off, of course). So, I thought it would be safe to let it expire and immediately reregister it once expired. I checked availability a couple of times but then left it for a while as I was very tired from working nights. On the 22nd I visited GoDaddy again, only to find that on the day before the name had been snapped up!
Googling for the name and company of the new registrant, I found that he's a somewhat notorious cybersquatter who gobbles up hundreds of names and then holds them hostage for 4 or 5 figure sums. He's also been the losing respondent in a number of domain name cases.
I won't name him or the domain in question so as not to give him the satisfaction or push the price up, but let this be a warning! If you have a domain name which is of any value to you keep it's registration fully paid up! These cybersquatters are a scourge and although "something must be done" it's difficult to know what, without introducing intolerable bureaucracy or inflating domain name prices beyond the reach of the hobbyist. The only defence, then, for the mere mortal is to hold on to your names in the first place!
At least I can say with some certainty my domain name battle doesn't come close to the fiercest domain name battle of them all.
home.kingboyk.com
http://home.kingboyk.com/article.php/cybersquatting