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gray market

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noun
a market operating within the law but charging prices substantially below list prices or those fixed by an official agency.
QUIZ
SHALL WE PLAY A "SHALL" VS. "SHOULD" CHALLENGE?
Should you take this quiz on “shall” versus “should”? It should prove to be a quick challenge!
Question 1 of 6
Which form is used to state an obligation or duty someone has?
Compare black market.

Origin of gray market

First recorded in 1930–35; gray1 (in the sense “indeterminate or intermediate in character” + market
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2022

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