gray market

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


Origin:
1945–50

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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WordNet
gray market

noun
an unofficial market in which goods are bought and sold at prices lower than the official price set by a regulatory agency [syn: grey market
WordNet® 3.0, © 2006 by Princeton University.
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Example sentences
Thus, shoddy gray market work continues and costs go up for legally permitted work or the work simply doesn't get done.
Creates felony for sale or distribution of gray market cigarettes.
Equipment that is considered gray market will not be accepted.
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