The domains can be renewed at normal pricing until 18th day after expiry. Afterwards they can be restored at 80 USD + renewal,or transferred away (from godaddy) by the actual owner (even if somebody wins the domain in the Aftermarketauction or firesale, see below, the owner still has something to say until the 42 day after expiry for renew with extra fee or transfer).
7days later (after day 18) most (not all) domains, go into auction on the 25th day after expiry for 10 days in the Aftermarket (mostly start at 12 $). Afterwards (if nobody places a bid) there's a firesale in 5 days of 11; 10; 9; 8 ; 5USD with a buy now. If nobody places a purchase in the firesale, then after 2 days or so the domain goes in the ACTUAL Registry Redemption (30 days redemption in what period the domain can still be get out of Redemption by the owner at Redemption Fee - but transfer is not possible anymore), 5 days pending delete, and afterwards is again available to purchase by everybody to register.
However : if the domain is purchased in auction or firesale, then the domain, doesn't go (42 days after expiry) in REAL Registry Redemption Period
but goes to the winner of the auction/buyer in firesale.
When you place
a backorder => The owner doesn't get any warning.
But they keep having rights, like described above.