What VREF INC does

VREF INC is a privately held aircraft valuation and appraisal company founded in 1993, headquartered in Buffalo Grove, Illinois, with additional offices in Austria and Switzerland. The company operates a hybrid platform-and-services model: its core asset is 30+ years of proprietary, transaction-grounded valuation data covering corporate jets, fixed-wing piston and turbine aircraft, helicopters, and commercial narrow-body assets. VREF monetizes this dataset through VREF Online, a subscription SaaS platform with two tier levels and monthly/annual billing; through printed quarterly Aircraft Valuation Guidebooks sold individually or via annual subscription; and through VREF's API for Business, which enables third-party integration of valuation data.

Beyond data products, VREF generates professional-services revenue from USPAP-compliant, ASA-accredited Senior Aircraft Appraisers who perform desktop and onsite aircraft appraisals, certified VREF Aircraft Reports (Opinion-of-Value and Residual Value Reports), legal advisory services (expert witness, deposition, diminution of value assessments, and aircraft repossession), and contract field auditor engagements paid at $500-$1,000 per day plus travel. The company serves financial institutions and lenders, insurance companies, aircraft owners and operators, brokers and dealers, legal professionals, and maintenance facilities.

VREF distributes through self-serve digital channels, direct enterprise sales, the air.one reseller partnership, the AIC Title Service co-developed "CarFax-of-aviation" bundled report, the API, and printed publications. AI tooling is used only for content/report generation assistance (ChatGPT integration); the company does not build proprietary models. VREF has 1-10 employees, no disclosed outside funding, and is operated by CEO Ken Dufour and President Jason Zilberbrand, who assumed management in March 2018.

Name

VREF INC

Legal name

VREF Aircraft Value Reference Appraisal & Litigation Services

Website

https://vref.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

1–10 employees

Short description

VREF INC provides aircraft valuation data, USPAP-compliant appraisals, and legal/expert witness services to banks, insurers, operators, brokers, and attorneys worldwide, leveraging 30+ years of transaction-grounded proprietary data via its VREF Online platform, quarterly guidebooks, and API.

Ownership category

akta.pro rank

Product category

Aircraft Valuation and Appraisal Services

akta.pro primary industry

Private Aviation Insurance & Financing/Leasing Services (THABAFAM)

Keywords

• Aircraft valuation services
• Aviation appraisal services
• Aircraft value reference
• Aviation expert witness
• Aircraft collateral valuation

Headquarters

HQ city

Buffalo Grove

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Subscription-Based Data Access: VREF Online provides real-time aircraft valuation data through tiered subscription plans (monthly or annual billing). Users access valuation platforms, build aircraft profiles, and generate reports.
2. Quarterly Aircraft Valuation Guidebooks: Printed quarterly publications providing historical aircraft valuation data. Available as individual quarterly publications or annual guidebook subscriptions.
3. USPAP Certified Aircraft Appraisals: Desktop and Onsite aircraft appraisal services performed by Senior Accredited Aircraft Appraisers (ASA). Includes comprehensive logbook review, equipment assessment, and signed appraisal documentation.
4. VREF Verified Reports: Certified informational reports providing quick aircraft value assessments with signed Certificate of Value. Also includes Residual Value Reports.
5. Legal Advisory Services: Expert witness and litigation support services, including diminution of value assessments, trial testimony, and deposition services for plaintiffs, defendants, insurers, and financial institutions.
6. Aircraft Repossession Services: Specialized repossession services for aircraft assets.
7. API Connectivity: Business API access allowing third-party integration of VREF valuation data and services.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

VREF provides aircraft valuation data and appraisal services through a subscription-based online platform (VREF Online) offering real-time aircraft valuation data, complemented by quarterly printed valuation guidebooks. The company also delivers USPAP-compliant aircraft appraisals (desktop and onsite), certified informational valuation reports, and legal advisory services including expert witness testimony, diminution of value assessments, and aircraft repossession for financial institutions, insurers, attorneys, owners, operators, and brokers.

Product overview

VREF INC operates as a comprehensive aircraft valuation and appraisal services company offering a unified platform-plus-services model. The core offering consists of VREF Online, a subscription-based aircraft valuation software platform providing real-time data, and the quarterly published VREF Aircraft Valuation Guidebooks. Supporting services include USPAP Certified Aircraft Appraisals (desktop and onsite), VREF Aircraft Reports (including Verified Opinion-of-Value and Residual Value Reports), and Legal Advisory Services (expert witness, litigation support, and aircraft repossession). The company also provides API connectivity for business integration and operates the "The Truth About the Market" podcast for educational content. VREF serves aviation professionals including banks, insurance companies, operators, owners, brokers, and maintenance facilities with defensible valuation data trusted for over 30 years since 1994.

Differentiator

Problem solved

Functional benefit

Brands

• VREF Online®: Online aircraft valuation software platform providing real-time aircraft valuation data, aircraft profiles, and valuation reports
• VREF Aircraft Valuation Guidebooks
• VREF Verified Reports
• The Truth About the Market

Products and services

• VREF Online Subscription-based online aircraft valuation software platform providing real-time valuation data for aircraft, engines, optional equipment, and performance data. Subscribers can research, build and save custom aircraft profiles and generate valuation reports. Two tier levels available for monthly or annual subscription.
• VREF Aircraft Valuation Guidebooks Quarterly published printed guidebooks serving as permanent archived records of aircraft values at the time of publication. Available as individual quarterly publications or annual guidebook subscriptions for offline access to historical valuation data.
• VREF USPAP Certified Aircraft Appraisals USPAP-compliant and ASA-accredited "Desktop" and "Onsite" aircraft appraisal services performed by Senior Accredited Aircraft Appraisers (ASA). Determines the unique value of a specific aircraft based on installed equipment list including avionics, optional equipment, STCs, modifications, photos, and comprehensive logbook review.
• VREF Aircraft Reports Certified informational reports including VREF Verified Opinion-of-Value Reports and VREF Residual Value Reports for situations not requiring full USPAP appraisals. Each report includes a signed Certificate of Value. Note: VREF Verified Reports are not USPAP compliant and should not be used for financing, estate, legal, or insurance purposes.
• VREF Legal Advisory Services Expert witness and litigation support services including trial testimony, deposition, and corporate litigation representation for plaintiffs and defendants, insurers, financial institutions, and manufacturers. Specializes in diminution of value assessments and operates in both Federal and State Court.
• VREF Aircraft Repossession Services Specialized aircraft repossession services assisting financial institutions and lenders with recovering aircraft collateral.
• VREF API for Business API connectivity enabling businesses to integrate VREF valuation data and services into their own platforms and workflows.

Quantifiable outcome

• Valuations trusted by lenders, insurers, legal professionals, and aviation professionals worldwide for over 30 years
• +1 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability3 records

Feature6 records

Partnerships

Two partnerships are on record, tiered core.

• AIC Title ServicecoreStrategic or Co-development Partner · 1 March 2019Strategic partnership announced March 2019 to offer comprehensive VREF Verified Reports that include both aircraft value statements and title records. The combined report provides buyers and sellers with critical information on aircraft value and title documentation, described as the 'CarFax' of aviation.
• air.onecoreChannel Partner/ Reseller/ Distributor · 1 September 2018Partnership announced September 2018 enabling aircraft brokers, buyer's agents, and private buyers to purchase VREF Verified Reports directly from the point of sale through air.one's platform. This was a first for the aviation market, integrating valuation reports into consumer-facing aircraft sales platforms.

Scale indicators2 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• IBA (International Bureau of Aviation): IBA provides independent aviation valuations, asset intelligence, and advisory services to lessors, banks, and operators. Like VREF, it serves aviation finance workflows with appraisals and market data, competing in the same USPAP/ASA-equivalent deliverable category.
• JetNet: JetNet provides aircraft ownership history, market intelligence, and fleet data for business aviation. It is comparable to VREF in serving brokers, dealers, and operators with aircraft-level intelligence and historical transaction context.
• Aircraft Bluebook: Aircraft Bluebook is the most direct competitor to VREF, publishing reference values for general aviation aircraft and helicopters. Both serve lenders, insurers, and operators with subscription valuation data, competing head-to-head on accuracy and brand trust in the same niche.
• Ascend by Cirium: Ascend (part of Cirium/Rex) provides aviation data, valuations, and consulting across commercial and business aviation. It overlaps VREF in residual value forecasting, advisory, and benchmarking work for lenders and lessors, while operating at significantly greater scale.
• Amstat: Amstat provides business aviation market data, including transaction tracking and competitive intelligence. It overlaps VREF's transaction-data layer and serves similar aircraft operator, dealer, and broker audiences with subscription analytics.
• Rolland Vincent Associates: Rolland Vincent Associates is an aviation consulting firm producing industry forecasts, residual value studies, and market research used by manufacturers, lenders, and operators. It competes with VREF on residual value forecasts and aviation finance advisory work.

Emerging players

• AvData (AvData Holdings): AvData provides aviation asset management, records, and valuation-adjacent services to lenders and operators. It overlaps VREF's collateral-management workflows for finance and repossession, though with a smaller, less established market presence.

Broad incumbents

• CoStar Group: CoStar is a scaled data, analytics, and valuation platform for commercial real estate. While it operates in real estate rather than aviation, its subscription data + advisory model is directly analogous to VREF's, and it represents the strategic-acquisition template VREF could eventually become at scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VREF INC