I catch a few every week. This is how it works:
Step 1: I start my scanner. This is a homegrown script with some magic to make it detect drops actually just before they occur (!).
Step 2: The scannerscript notifies my reseller-script. This however does not operate an ordinary registrar-reseller account, but it is a register-reseller account living on one of the register servers.
Step 3: Now this is where I beat all my competitors every time: remember my scanner detects drops just before they actually occur? I have created a special timing algorithm so my registration attempt arrives at the registers server at the moment of the drop. In fact there is no time between the drop and me re-regging the domain.
Step 4: A notification email is sent to my emailaddress.
Step 5: I usually get a number of lowball (high $xx.xxx) offers immediately which I turn down.
Step 6: I wake up, take a shower, have some coffee, go to work and try to forget about that recurring dream.