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1. The business of buying or selling goods, such as imports, at prices below those set by an official regulatory agency or at prices below those prevailing in an established market.
2. The business of buying or selling securities that have not yet been officially issued and are not available through established brokers.
1. a market operating within the law in which scarce goods are sold at above-market prices.
2. the selling of goods bought at a very large discount at prices substantially below the market price.
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|Noun||1.||gray market - an unofficial market in which goods are bought and sold at prices lower than the official price set by a regulatory agency|