[Leland Pate]

I need some advice from my fellow P-heads on this subject.

To make a long story short, I put my boat on eBay because I need to sell it before going to Germany.

I owe $19,000 on it and have come to the conclusion that I am going to lose money no matter which way I swing it.

The eBay auction was only gettting up to ~$15K with the reserve not met. I had a local guy come out and look at it two days ago.
They first offered $17K. Then $17.7K, then $18.3K.
Yesterday, I really thought $18.3K was the best deal I was going to get so I verbally accepted over the phone.
As a courtesy to one of the other bidders on eBay, I wrote him a message saying the auction would be ended early because I accepted an offer.

Now, here's the tricky part. The other eBay bidder wrote me back saying he'd pay $18,800. This would significantly reduce the financial lose I'd take if I sold the boat to the local guy for $18,300.

But, a co-worker mentioned to me that I may have entered a verbal agreement with the local guy and he could potentially challenge me if I were to back out of the deal. Both these guys are getting a killer deal on the boat and either way I'm losing money. So, it's not like I'm being greedy here.

What do you all think? Would I be wrong to back out?