pinhook
v.— «Although many of the weanlings are to be pinhooked, they brought yearling-style prices. Still, with the yearling market on the rise it’s possibly the time to take such risks. (Pinhooking means buying weanlings to be sold on as yearlings. The breeder gains cash-flow and the buyer assumes the cost of yearling sale preparation in expectation of the horse gaining value.)» —“Willesee Horses Fetch $3.46M” by Jennifer Stynes Australian Financial Review May 31, 1993. (source: Double-Tongued Dictionary)
Further reading
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In Southwest Florida “pinhook” refers to someone who gets produce — fruits or vegetables — at discount prices at Farmers’ Markets or by gleaning fields that have already been harvested & then sets up a roadside stand and sells to the passing public.
Many times an unscrupulous pinhooker will place better looking produce on the top of the basket to cover up the majority which is usually damaged inferior produce or will bait with good produce and switch to inferior produce when bagging it. A pinhooker rarely reports his income to IRS or to welfare agencies when applying for benefits such as food stamps.
Not all pinhookers are dishonest; however, enough are that the term “pinhooking” does have a pejorative meaning.