gray market
/ˈɡreɪ ˈmɑːrkɪt/ · gray·mar·ket
noun
- The buying and selling of goods through distribution channels other than those authorized or intended by the manufacturer or producer. The camera was purchased on the gray market, so the warranty was not honored by the brand.
- The trading of shares before they are listed on a stock exchange, often through private transactions. Investors bought the startup’s stock on the gray market, hoping for a profit once it went public.
Synonyms
parallel marketsecondary marketunofficial marketoff‑marketinformal marketshadow marketunderground marketgray‑import market
Antonyms
Did you know? The term "gray market" was popularized in the 1960s to describe the resale of electronics that were legally produced but sold outside the manufacturer's authorized network.