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 of gray market
First recorded in 1945–50
Words nearby gray market
gray induration,
gray iron,
gray jay,
gray lady,
gray manganese ore,
gray market,
gray matter,
gray mold,
gray mullet,
gray nurse shark,
gray panther