EPISODE 7 | The Truth About Off-Market Aircraft, Back-to-Back Deals, and Why You Still Need a Broker | 10/16/25

Host: Jason Zilberbrand, President of VREF Aircraft Value Reference & Appraisal Services Summary In one of the most revealing episodes yet, Jason pulls back the curtain on three of the aviation industry’s most misunderstood—and often misused—practices: off-market aircraft, back-to-back transactions, and the broker’s role in 2025. He explains why these deals tempt buyers and sellers alike with promises of speed, exclusivity, and discretion—and why, more often than not, they lead straight into confusion, inflated prices, and even fraud. Drawing on decades of hands-on experience as a dealer, appraiser, and expert witness, Jason dissects how these structures work, where they go wrong, and how a skilled broker can be the difference between a seamless closing and a financial disaster. Topics Covered The Illusion of the “Off-Market” Advantage Why exclusivity, speed, and confidentiality attract buyers. How real off-market opportunities differ from rumor-based listings. The role of trusted broker networks in legitimate private transactions. When “Off-Market” Turns Ugly The dangers of price opacity and multiple false listings. How missing serial numbers, fake mandates, and altered specs erode trust. Case examples of fraudulent transactions, missing logbooks, and hidden liens. Why buyers have fewer consumer protections purchasing an aircraft than a car. Understanding Back-to-Back Transactions What a back-to-back actually is—and why it’s often misunderstood. How they’re used to disguise markups, hide commissions, or inflate prices. Real-world consequences: lawsuits, escrow confusion, and legal exposure. The rare cases where a properly disclosed back-to-back can serve a legitimate purpose. Historical Context and Modern Parallels How the Wright Brothers’ early sales disputes mirror today’s representation chaos. Why transparency problems have been baked into aviation since its inception. More show notes can be found at https://vref.com/news/episode-7-the-truth-about-off-market-aircraft-back-to-back-deals-and-why-you-still-need-a-broker-10-16-25/ Quotable Moments “You have more consumer protection buying a dishwasher than buying an airplane.” “Transparency isn’t bureaucracy—it’s protection.” “A good broker is your shield. A bad deal is your lawsuit waiting to happen.” Listen Now Hear Episode 7 of The Truth About the Market wherever you get your podcasts, or stream it directly at VREF.com/podcast . Call to Action To explore current aircraft values and learn how real-world transparency impacts pricing, visit VREF.com . For market data, appraisals, or guidance on your next acquisition or sale, contact jason@vref.com .