What is the difference between Grease up and Grease down?
Here are two examples from "Snatch" by Guy Ritchie:
(I've noticed that in the first sentence it's a noun, while in the second it's a verb, but I guess it doesn't matter so much or is the clue)

1. You put the man into a bare-knuckle boxing match. What the [F word] did you expect? A grease-down and a shiatsu?

2. He's gonna pull my pants down, grease me up

Question

What is the difference between Grease up and Grease down?
Here are two examples from "Snatch" by Guy Ritchie:
(I've noticed that in the first sentence it's a noun, while in the second it's a verb, but I guess it doesn't matter so much or is the clue)

1. You put the man into a bare-knuckle boxing match. What the [F word] did you expect? A grease-down and a shiatsu?

2. He's gonna pull my pants down, grease me up

Answer

1) here it means " did you expect a massage " ( oil is used to make hands glide easily over skin). The whole thing means : this is a fight, what did you expect? Did you think it'd be easy?
2) this is referring to a sex act . The oil would be a lubricant like in #1 , but for a different purpose.
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However, "grease up/down" are interchangeable; they both mean to apply grease or lubricant to something.

Answer

Merlyn has given a good answer.  I also just wanted to add that Mark is right - that movie is (I think deliberately) /extremely/ hard to understand.

Answer

Mark Weflen, thanks for sharing your opinion! I'm glad to hear answers\comments from English speakers from various countries. It helps to understand the slightest differences.

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In my opinion, it means the same thing in both cases. For what's it's worth though, as an American native English speaker, even I don't understand a lot of the English in that movie :). Maybe someone from Britain can help out.