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Definition

Something whose true value is concealed or unknown and may be lower than expected by the buyer or claimed by the seller, especially something offered for sale.

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Origins

Reportedly from the practice of substituting a butchered cat, etc. for a suckling pig when sold in a sack at a market. Other theories circulate but all involve the purchase of a cat in a bag, where the buyer expected better. poke refers to a bag or sack, and is related to pouch.

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See Also

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How People Actually Use It

Litterally, 'a pig in a bag or a sack'. Buying something sight unseen. Usually resulting in buyer's remorse. This saying is found mostly in the southern states.

""I should have known better tha to by a I-pod on E-bay, it turns out it was a cassette recorder" "Well, you should know better than to buy a pig in a poke.""

Source: Urban Dictionary