: a market employing irregular but not illegal methods
especially: a market that legally circumvents authorized channels of distribution to sell goods at prices lower than those intended by the manufacturer
Example Sentences
Recent Examples on the WebAfter New York legalized last year, an unlicensed, gray market emerged in the city while lawmakers set up a framework for legal dispensaries. Karina Elwood, Washington Post, 26 Aug. 2022 Even just outside Virginia, in the nation’s capital, the gray market is thriving. Karina Elwood, Washington Post, 26 Aug. 2022 Mitigating counterfeit, reducing the gray market and helping prevent fraud can help reduce these types of instances. David Vasko, Forbes, 4 Aug. 2022 The gray market created by unlicensed retailers shares mixed feelings. Dario Sabaghi, Forbes, 11 July 2022 Cettire could be seen as a case study in how a company operates around the gray market.New York Times, 24 Aug. 2021 Emails showed that Hyman was also aware that there was already a gray market for reselling grams before the launch, although this was prohibited by the agreement investors had signed. Darren Loucaides, Wired, 8 Feb. 2022 Still, incentives remain for customers to look to the gray market.New York Times, 24 Aug. 2021 China’s government is cool toward bitcoin mining, leaving the activity in a gray market short of being officially outlawed. Caitlin Ostroff, WSJ, 21 May 2021 See More
Word History
First Known Use
1934, in the meaning defined above
Legal Definition
gray market
noun
: a market employing irregular but not illegal methods
especially: a market that legally circumvents authorized channels of distribution to sell goods at prices lower than those intended by the manufacturer