GRAY MARKET
\ɡɹˈe͡ɪ mˈɑːkɪt], \ɡɹˈeɪ mˈɑːkɪt], \ɡ_ɹ_ˈeɪ m_ˈɑː_k_ɪ_t]\
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an unofficial market in which goods are bought and sold at prices lower than the official price set by a regulatory agency
By Princeton University
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1. Selling in unauthorized sales-territory, or using an unauthorized dealers in an authorized territory. Undercutting authorized sales territories and authorized dealers with prices lower than wholesale or distributor charges. Shady market of genuine branded goods, known as 'gray goods'. 2. Consumer market targeting those more than 60 years old..
By Henry Campbell Black
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