How long is the redemption period after a web domain name expires?

if a website domain name expires, how long is the redemption period granted before it is free to be grabbed by any one

The actual redepmtion period is about 70 days from expiration, but it's not set. There's a 7-day window during which the registrar can release it. Some registrars have taken to setting up separate companies (or having agreements with other companies) where these companies can register a domain as soon as it comes back, and then hold it hostage for someone else to buy. These companies will buy every single expired domain in hopes that the original registrant will want it back and be willing to pay upwards of $1000 for it. This happened to one of my customers, and he decided to just register the .NET of his domain instead of paying exhorbitant funds for the hijacked .COM.

dunno scot did a fine job explaining.