From the GoDaddy website.
Days after expiration Action
Day 1 We make the first of three billing attempts to renew the domain name.
Day 5 We make the second billing attempt. If the billing fails on the day of, or auto renew fails, the domain name expires and is immediately set to parking. The domain can be renewed by the registrant at no extra cost.
Day 12 We make the third and final attempt to renew the domain name. The domain name can still be renewable by the registrant at no extra cost.
Day 19 The domain name can be renewed by the registrant for the cost of a one-year renewal plus an $80.00 redemption fee.
Day 26 We add the domain name to an expired domain name auction.
Day 36 The expired domain name auction ends. If there are no backorders and no bidders in the expired domain name auction, we list the domain name in a closeout auction.
Day 41 The closeout auction ends.
Day 43 We assign the domain name to the winner of the expired domain name auction, backorder, or closeout. If there are no bidders, we return the domain name to the registry.
Why would they risk losing their domain name.
