same here.
(terminology wise gray means it's not illegal to sell/provide that service or goods. heroin - black, eggs - gray)
The basic difference is:
• Black market: There is a clear violation of the law, such as selling without reporting sales, evading VAT, failing to issue invoices, smuggling, or selling prohibited products.
• Gray market: The products are usually genuine, but they are sold through channels not authorized by the brand or outside the official distribution network. This does not necessarily involve tax evasion.
• Black market: There is a clear violation of the law, such as selling without reporting sales, evading VAT, failing to issue invoices, smuggling, or selling prohibited products.
• Gray market: The products are usually genuine, but they are sold through channels not authorized by the brand or outside the official distribution network. This does not necessarily involve tax evasion.
1