black market

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black market

The business of buying or selling illegal or banned goods, currencies, or substances. Hyphenated if used as a modifier before a noun. Though they have been proven beyond a shadow of a doubt to hold no medicinal properties, rhino horns are highly sought after on the black market. Illegally procured and distributed prescription medicines make up a surprisingly large percentage of black-market drug trade.
See also: black, market

the black ˈmarket

an illegal form of trade in which foreign money, or goods that are difficult to obtain, are bought and sold: Tickets for the game are being sold on the black market for $200 each. OPPOSITE: the open market
See also: black, market
References in periodicals archive ?
You can't establish an exact black-market rate," he said.
Minin, like most of the new breed, arranged black-market transfers with only "the pure motive of pure profit" in mind (as George Bernard Shaw put it in Major Barbara, his satire of the arms business).
As a direct consequence, the black-market rate rose to S|pounds~330=$1 as more people exchanged their money at the banks because the difference did not appear worth the risk associated with dealing in the black market.
Despite the crime and the black market, there is a strong sense of community, with neighbors sharing rations, homegrown vegetables (nobody grows flowers anymore), and black-market spoils.
Black-market prices for these remote exploits requiring no target-user intervention sold for $5,000 in 2004 but have skyrocketed to as much as $80,000 in 2007.
A more objective survey of steroids' role in sports shows that their health risks, while real, have been grossly exaggerated; that the political response to steroids has been driven more by a moral panic over drug use than by the actual effects of the chemicals; and that the worst problems associated with steroids result from their black-market status rather than their inherent qualities.
However, potential black-market buyers may find Roadway Express's $50,000 reward for information leading to a conviction more appealing than owning one of the prizes.
legislators' front burner, a new documentary looks at the underbelly of illegal immigration, including the black-market trade in human beings.
While the Cuban peso is still exchanged at an official rate of one to one, the black-market rate was running at 100 to one the week we were in Cuba.