GODADDY SUCKS! I'll be switching all of my 100+ domains to namecheap.com.
Here is the exact text from godaddy.
According to a whois lookup at the registry, the domain name [domainname] expired on 8/10/2012 and was held in a short grace period to allow the registrant to renew. Given that the domain was not renewed in a timely fashion, the domain has now entered a 30 day 'Redemption Period'. During this period the registered owner may renew the domain by paying a redemption fee.
The Redemption Period is the 42 day time line available to domain owners to renew a domain after the expiration date. From Day 19 and on the domain registrant can renew with a Redemption fee. When your domain is in Redemption Status it has passed the expiration date, but has been reserved for an extended time frame for the domain owner on behalf of the domain registrar. A Redemption Fee is an $80.00 fee that must be paid to renew domains that have been expired for 19 days or longer. The Redemption Fee is initially paid by the Registrar to extend the registration and prevent the domain from being backordered or going onto the market.