gray market

noun

1. a market operating within the law but charging prices substantially below list prices or those fixed by an official agency.

Word History and Origins

Origin of gray market¹

First recorded in 1930–35; gray ¹( def ) (in the sense “indeterminate or intermediate in character” + market ( none )

Example Sentences

Opponents, on the other hand, argue that the amount of home growth permitted — up to 144 square feet — is excessive and could create a gray market.

From Salon

“He tried to bring some order into this otherwise chaotic, gray market economy,” Karen Sosa, who represented Cho, said in her opening statement.

From Los Angeles Times

It can be hard to return or exchange these so-called “gray market” products, especially stolen and resold goods.

From Washington Times

A whistleblower could help in that department, and integrity companies often have contacts at so-called “gray market” betting outlets that could provide information.

From Seattle Times

Prices for carboplatin, cisplatin, and other drugs have skyrocketed on the so-called gray market, where speculators sell medicines they snapped up in anticipation of shortages.

From Scientific American