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Why would you want to do that, rather than a regular transfer ? Dropping a name is dangerous, unless it is garbage and you are sure nobody will want it. But then why are you holding a bad name ?
The answer is that it depends, some registrars allow you to delete the name at once so that it becomes available to register again, but most of the time they will just send it to early redemption (in case you change your mind).
Can't I go to other registry and buy the same domain with a normal price?
Registry and registrar are different things. Registrar is the company you make payment to register a domain. Registry is the owner of that extension or TLD. You can think registrar as a retailer and registry as a wholesaler. There is only one registry of a particular TLD and there are many registrars who sell domain registration right one-by-one in that particular TLD.
If wholesaler makes a change in price, all retailers will adapt to the new price. So the answer is no.
