This article argues that the adoption of the competitive Vocational Education and Training (VET) markets in Australia resulted in shifts in institutional perceptions and practices. Using situated experiences and perspectives from quality assurance auditors, training managers, international students and VET teachers from seven commercial for-profit private VET institutions in Melbourne, Australia, the article suggests that there are emerging patterns of institutionalised market-based relationships, which can have long-term implications for pedagogy, learning and international students' outcomes in VET.