YACHT: Hannes Häger, how did you and your business partner come to found Brokeboats?
Hannes Häger: After the Baltic Sea storm surge in autumn 2023, we were commissioned by the insurance companies to determine residual values for the stranded and severely damaged yachts. As my father is an appraiser in the motor vehicle industry, I was familiar with the concept of residual value exchanges for broken cars. Even boats with total losses often still have valuable equipment such as sails, winches or anchors.
You then offer them for sale via your exchange. What makes you different from other sales portals?
After the storm surge, hardly anyone was prepared to take all the scrap-ready boats. The transaction went more badly than well, which was also due to the fact that the bids were not binding. Our platform brokeboats.com is now a one-stop shop solution where you can advertise and make a binding bid. And if the hammer doesn't fall in the end, we offer to organise the scrapping.
How do affected owners or their insurers benefit?
Well, our salvage exchange is an efficient solution for processing total losses. Even if the selling price is only one euro, the insurance company or private seller is spared the expensive removal and scrapping.
What happens if the seller does not agree to the highest bid?
Unlike eBay, for example, the owner always has the last word with us. He can therefore also reject the highest bid. In this case, there are no costs for the bidder. A legally binding purchase contract is only concluded if the owner agrees.
How long does such an auction usually run?
Each campaign runs for exactly two weeks. If there is no bid, we will make an offer to scrap the ship. However, there is also the option of starting a second auction attempt. And in future, owners will also be able to offer their boats at fixed prices for an unlimited period of time.
You also want to take care of the countless scrap boats in the harbours. Why?
It's a shame that the basically sustainable sport of sailing is so burdened with the unresolved issue of disposal. We want to help harbour operators get rid of abandoned boats and at the same time enable young people to fulfil their dream of owning their own boat for little money.
How does this business model pay off for you?
The highest bidder pays 50 euros for residual values under 2,000 euros. For values above this, two and a half per cent of the highest bid is due as a brokerage fee. At the moment, the whole thing costs us more than it earns us. However, we are trying to use influencer marketing to promote the platform.
How do junk boats fit into the ideal world of influencers?
We work together with the Salty Brothers. They also bought their first boat for a symbolic euro and then refurbished it. The boys now sail around the world and are successful YouTubers.
