Grey Market (Noun)
Meaning
An unofficial market in which goods are bought and sold at prices lower than the official price set by a regulatory agency.
Classification
Nouns denoting acts or actions.
Examples
- The grey market for tickets to the concert was thriving, with people selling them for half the official price.
- Some medications are widely available on the grey market at much lower prices than in pharmacies.
- The company struggled to compete with the grey market for refurbished electronics, where prices were significantly lower.
- In some countries, people turn to the grey market for software because they cannot afford the official prices.
- The grey market for luxury watches is filled with counterfeit timepieces that closely resemble the real thing.