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They will not be charging standard registrar rates either. They might want a few hundred dollars or a few thousand or even more, depending upon their estimate of value of name.
In meantime, in order to attempt to force you to become very desperate, they will often set up a page of pornographic banners (which also makes them a few dollars). This has effect of tarnishing your image and making you want to get domain back at any price.
What can you do about this? Unless you happen to have a trademark on domain name (in which case you might be able to sue for cybersquatting), there is nothing that you can do. You see, nothing illegal has been done. Someone is simply taking advantage of your mistake.
The only thing you can do is (a) negotiate with domain sniper, or (b) get a different domain name. You can be sure he will make it easy to contact him (the email address or phone number will be either in WHOIS record or on a page at domain name.
You don't, however, need to take his first offer. Unless your domain is extremely desirable it's very likely that you are only customer for name. In which case, sniper as choice of making a few dollars a year from his pornographic banners or selling it back to you. He may also put domain name up for sale on eBay or domain name auction sites.
He wants to get your money as fast as he can, and he wants to get as much as he can. He's also going to ask you for as much as possible to begin with, so don't take his first offer.
Be careful when handing money over to sniper. He's already proven himself unethical, so be sure to use some method of payment, such as a credit card, which can be revoked if necessary.
Once you've got your domain name back, remember to renew it on time next year. Set up a reminder so you don't forget, and don't depend upon your registrar to send you an email. It's your responsibility to remember to renew.
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