I am not trying to get smart here..
Basically never tried and may not ever try (I stated that up front)
Just like to know how it works?
How much it cost etc..
well, start with backordering
backordering is the term used to place an "bid option" on a domain should it expire.
catch is a term used for a domain that is "caught" by that dropcatcher/backordering service.
there is no cost to join those services that attempts to "catch" expiring domains, except GD/TDnam and they charge membership fee.
you only pay the final auction price, should it go to auction.
1 year renewal fee is included in that price.
if you are the only person who backorders a domain at a specific dropcatcher and they catch the domain, then you would only pay the minimum bid amount for that domain.
for instance:
at namejet, most domain bid prices start at $69
at snapnames, most bids start at $59, but there are some that start at lower cost.
if you bid on domain A at namejet and no one else bids on it and they catch it, you will only pay $69.
when you win a domain, you will receive confirmation via email.
the email will note the domain, the final cost and the registrar.
if you don't have an account at the specific registrar where the domain is held, the dropcatcher will create an account for you there and push the domain to that account.
the user id and password will be sent via email as well.
most domains caught at namejet will go to netsol or enom
most domains caught at snap will go to moniker, mydomains, dotster, and some others.
most domains caught at pool could end up anywhere from what i've heard.
never used them mainly because of those registrar issues.
you will need to have a credit card on file with these services to pay for any domains won that are below $5k each.
bidding for anything over that amount requires payment via wire transfer.
all imo...
