Instead of bidding like crazy have some ice and let it pass. There are 30-50k domains expiring everyday, the opportunities will continue to come to find a good and cheap name. If you dont get it, be happy for the one that got it. Hopefully they will not just hoard it but maybe have some great ideas they can make real. Maybe they develop something that even you will benefit from one day. If you dont have big plans with a name, let it go to someone that makes something with it. Have gratitude and compassion, lets be real. Most people buying a domain name is just regular people and if you catches the domain, they dont have the budget to pay for it.
Look at the ones that are prepaid 9 years or that are 15+ years old, someone is sitting tight and think it will give them enough money to fly to the moon one day, instead they slow down the development by cramping on names, that have no real value, only in the head of the one holding them. (and actually loosing all the potential value it had, see previous poster's example of music.com)
The value comes from the content, a new startup and the ones that are popping up now a days, will just take a cheaper and available name. grooveshark, soundcloud, spotify etc
"two keyword, 5 letter, etc", and beginners see and believe this is what gives value, and they pay because they heard about the big money to be made. The big money is made on this fool. He dont really know what he is doing. He keeps the pyramid going.
Ive seen many of these stories.
People tend to go crazy and do mass registrations and a year later they have to drop all of them because no money is made to renew.
Its better to just get 2 domains, and then 2 other domains in another subject, aim for quality not quantity.
I decide for about 10 names, then i let them sit in my mind for some days, thinking and feeling about them, it usually helps to cut it down to 5. Of those 5 i decide to only reg 1-3 of the cheapest.
This help me save money, it gives you guys possibility to reg some name, and what i have actually is useful.
The premium domain s*it they registrars have going is just crazy, i looked do some names, first they came up as no available, a minute later they were available but for xx,xxxx. Other times the name is available for a normal price and a couple minutes later when i look its bought.