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I think it still happens in camera gear but you risk not having a manufacturer warranty. At one time Nikon did not honor grey market item warranties (item S/N's are different by region) while Canon still did. Not sure if that changed at all.
First sale doctrine has been under fire for a very long time. I think I recall Autodesk trying to prevent resale of AutoCAD software many years ago. Too many of our purchases are now just licensed, so we don't ever "own" them. E-books with DRM are like this today. We can't resell our e-books.
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