In the end, the custom catamaran sold over asking price in a unique closing. All offers were to be submitted on a given date, at a specified time and the seller chose the final offer. “While over-asking bids are generally rare in yacht sales, it seems to be happening more in the current market with such limited inventory. I’ve had the chance to buy real estate in very competitive markets, and that’s probably the closest comparison to what we’re seeing today. With pocket listing inventory selling before hitting the MLS, boats going into contract within a day or two of going on the market, multiple offers, over-asking sales, and buyers waiving contingencies, it is most definitely still a seller’s market, and buyer’s need a good strategy and intimate relationship with their broker to really compete. In this deal, we received multiple offers on the same day, and the seller countered all offers with request for their best and final offer. When crafting a best and final offer, a buyer needs to consider three factors, price, time, and risk to make their offer most competitive. There are multiple tools you can use, for example, escalation clauses, weaving contingencies together, increasing deposits or making them non-refundable, and even potentially waiving contingencies,” states Gomez.