gray market

A non-tangible "market" in which one buys products that were made in another country and possibly were intended for use in another country.

Often these items are at a considerably lower cost than their American-made counterparts.

Can be spelled "grey market" or "gray market."

Photographer #1: I like your new Nikon camera.

Photographer #2: Yeah, it's great except for the fact that the menus are in Japanese.

Photographer #1: Ohhhh, you must've bought it on the gray market.

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