I lost my domain name. Blast.

I forgot to renew my domain name jerometurner.co.uk recently and now it appears someone else has bought it. I'm weighing up whether it's worth getting in touch with them to offer them money to buy it back. They're clearly not using it for anything, it's just a holding page. Is there a precedent for stopping this I wonder? It is after all clearly my own name that I want the site for… or is this all the equivalent of me stamping my foot and saying 'Not fair, not fair!?'

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