Pinhead may very well be the most feared horror icon, and for good reason: he will take your skin AND your soul, all while torturing you for eternity. What you have on your side is that Pinhead is also one the most understanding and intellectually capable horror icons you could unfortunately meet.
While Pinhead has made more than his fair share of deals in his time, the problem is that people aren't very good at keeping up their end of the bargain with him. Sometimes he'll toss in some trickery (especially if you're talking about the most recent, straight-to-DVD features), but generally he just wants bad people to pay for messing with his box.
All he wants is some souls to torture. Now, this doesn't HAVE to be you (if you play your cards right).
Let's just pretend that you already opened the box (stupid – but understandable, actually). All you have to do is offer up another soul in trade. But it has to be a VERY bad one. Good thing VERY bad people exist in this world. Use them to save yourself. Tell him you'll send him into a prison full of souls, and he'll be more than happy to leave you be... for now.
Chance of Defeating Pinhead (by not dying): 75%