A little bit of history: I'm interested in a domain name that was snagged from me by a domain shark about a year ago. It is vital to my small business to obtain the domain again. I contacted the current owner a while back via the contact information provided by whois and never received a response - since then it has been listed with GoDaddy Premium Domain and is at a price that I really can't currently afford.
Also, the domain expired on the 3rd of this month and is in the renewal grace period.
I'm unsure whether I should enlist a 'domain drop catching' service like Pool.com and wait for the domain to fully expire? Or if I should try and come up with the money to go ahead and buy the domain at GoDaddy's Premium Domain price? GoDaddy still has the option to buy it but I'm confused if I can even still purchase it since it's in the renewal grace period.
What are the pros and cons with going either way and what can I do to give the best chance of obtaining the domain again?