For Sale How does TBR work?

[sport200]

So I am interested in a domain that is TBR on the coming Wednesday, and my registrar has a page to pre-book any name on the list: http://www.webnames.ca/content/tbr.asp

How does the auction part factor in? I keep reading people are bidding at Pool or Sibername and others for domains. How do you know which registrar is going catch the name, or do you just bid at all the sites that catch names?

 

[katherine]

When the name drops it's a free for all. Any registrar could grab the domain.
Placing backorders with multiple dropcatchers will increase the odds of catching the domain. Of course, if there is more than one interested party you may enter a private auction with other bidders.

 

[theinvestor]

Is that how it works? I still don't get it..i gave up