The grey market is an informal market where goods or services are sold without government approval.

Informal Market: The grey market operates without government approval or regulation.

No Official Channels: Goods are sold without using authorized dealers.

IPO Trading: Unofficial trading of IPO shares often happens in the grey market.

Legal but Unregulated: Items are legal but not controlled by the government.

Price Volatility: Prices in the grey market can be more volatile than official markets.