How much will you pay for an exotic cartridge....

For what it’s worth, I think the term "gray market" was coined in the USA in the late 1970s, to describe a market for certain exotic automobiles that could be purchased in the US through normal dealer channels but which in that case would be loaded down by emission control devices and huge ugly bumpers which were then mandated by the US DOT. In those days, those cars if sold in the European country of origin, usually Germany or Italy, were unhampered by such devices, looked a lot better, were a lot faster. (I remember test driving a legal 1976 Porsche 911S; it was a joke on the Porsche reputation. From 1975 to maybe the mid- to late 1980s, "legal" Porsches were no fun.) In response to a demand in the US for unfettered performance from these expensive cars, there was a business associated with illegally importing Euro versions and modifying them to comply with US standards for emissions and etc. Such emission controls could often be removed by owners, once having passed inspection. Problem was that the workmanship performed and the add-on gizmos installed in order to pass inspection were often shoddy. Those cars were not warranted except possibly by the shady companies that marketed them, and that was the "gray market". If something went terribly wrong, you were stuck. Re-sale value was poor.

In reference to my post above, I made an error. The item that I priced at $6500 at Yodibashi, after all discounts, is the Technics SP10R, the chassis only, which retails in the US for about $10K. “SL1000R” is code for the complete turntable including tonearm and plinth, which is much more costly..

Just want to clarify what Chakster says I wrote about purchasing audio items in Japan. I last shopped at Yodibashi Camera which is an enormous department store in the heart of Akihabara, the capital prefecture for purchase of anything in the world related to audio or cameras.  Yodibashi is about the size of the original Macy's in NYC, maybe bigger. You can buy pretty much anything for the home in that store, but 3 whole huge floors are devoted to audio and/or cameras.  The prices in Yodibashi vary all over the place, in comparison to US prices.  In some cases, you can pay 20% to 40% less than US list prices. In other cases, there is no advantage to purchasing there vs here in the US. In no case did I see any product that cost more in Tokyo than it does here in the US, unless it was a product that is actually MADE here or in Europe. 

As to cartridges, there wasn't much if any discount on Audio Technica, for example, at least nothing to make you excited.  (I checked out the AT5000 in May, 2019.) This applies to a few other brands, but I can't name them off hand. But at Yodibashi, you get an automatic discount (8 or 10%, can't remember) just for using your credit card.  You get another 8% off the listed price (which includes VAT), if you have your foreign passport with you and can show it to the sales desk personnel.  I calculated I could buy a Technics SL1000R for about $6500 net, and they had them in stock, no waiting. I mentioned this before in another thread with Chakster; you DO NOT have to pay the Japanese VAT if you can present proof of your foreign citizenship. I think the large differences in the savings between one product and another, by purchasing in Tokyo vs the US, has everything to do with the mark-up by the respective US distributors, where that product is also sold by US dealers.  Some distributors ARE a bit greedy.  Some are superb, like Robin Wyatt. 

You won't see a Lyra or a Koetsu cartridge, at least not any of the high end Koetsus, for open sale at any audio store in Tokyo where I have shopped. I did buy a Koetsu Urushi at a high end boutique, in about 2009. I had to pay for it in full and wait two weeks for it to arrive at the dealer by special order, and this was only achieved because my son is a fluent speaker of the language. None of the salespersons at Yodi or at this other store spoke English, and they have limited willingness to try to figure out what you want.  I had one salesman at Yodi just walk away, in frustration.  The check-out people do speak enough English to help you make the purchase. And you can often corral another customer to help you with language. By the way, that Urushi cost me about one-third of the US price, and it was fully warranted by the Tokyo dealer.  When I got home, I noticed that the cantilever was out of alignment.  I sent it back and got another sample, with no questions asked.  I think the US distributor for Koetsu may be one of those who takes a big cut for himself, maybe because he can, due to the popularity of the product. But my experience is all about being there in Tokyo.  The only thing I ever bought off one of the vendors on eBay was a used Fidelity Research FR64S; the transaction was perfect and the product exactly as described.