This item is used to set your Genoa sails and allows you to sail upwind much tighter. They are E$XPENSIVE I picked up 2 on ebay that were unusable because the sheaves were destroyed and with the old style the sheaves were installed with a ss pin in an aluminum housing (very bad)
How to fix It. It took 3 days of research and study and about 1/2 hour each to repair.You cannot buy sheaves that size so to find one I wet to home depot and bought 2 wheel casters rated at 2k lbs ,make sure the have a rubber tire, which you will cut off you should end up with this . cost $18.00
Drive the pins out with a punch from the inside because the are flared. Apply a bit of heat (not much)30 seconds is enough . They will come out easy.
Drill out the aluminum housing to the same diameter as the sheave shaft that came with the casters. The shaft will fit perfectly without cutting. Time to assemble and You just saved yourself a $600.00 purchase for both of them. Good wheel casters work great for sheaves they are cheap and of good quality.