What happens when the winner doesn't pay at TDNAM expired domain auction?

[CoolCode]

had a tdnam expired domain in mind which is one of my favourite to develop.
was watching it and within last 15 mins the bid went upto around $300. at that stage i guessed that it should be either an enduser who somehow need it or just someone playing around. so without much hesitation I put my maximum straight away as I didnt want anyone to come between me and the highest bidder. But as I predicted was overbidded automatically.

Now
what if the highest bidder didnt end up paying. will I get a offer to buy the domain at my highest bid or will I get a offer to buy the domain at the price which I went ahead of the highest bidder, which is around $300

 

[DotWeekly]

It goes to the second highest bidder! Huge flaw if you ask me..

 

[CoolCode]

yep thats right

want to know whether it goes to the second highest bidder at the price which he overtook the third highest bidder or the highest bid entered by the second highest bidder

It goes to the second highest bidder! Huge flaw if you ask me..