Gray-market
noun
1.
a market operating within the law but charging prices substantially below list prices or those fixed by an official agency.
noun phrase
The sale of reputable products, esp cameras and electronic equipment, by persons who have not bought them from the manufacturers’ authorized distributors and hence offer lower prices because the products do not qualify for the makers’ guarantees: There is a growing ”gray” market for Levi’s (1960s+)
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