Not myself, but back in the day had a room mate who raced for pinks and lost. Of course he "borrowed" my ride and raced the guy without asking me. He came back to the base camp with the other guy in tow, of course wanting the title. I told him unless he wants to run his pos again, to get the F... out. He left, but was whining and crying the whole time.
I remember two local guys back in 1971 had Mustangs and each of them named the cars PONY EXPRESS with the lettering custom painted along the fenders and trunk lid. These two guys argued constantly about who had the name first and both cars were equally fast so it was decided that they would race at Englishtown and the winner got to scrape or sand off the PONY EXPRESS lettering of the losers car after the race........ The loser showed up with a new paint job two weeks later without the lettering.
BTW! I think "pinks racing" is a urban legend and nobody in their right mind would do this with a expensive car......... Except for some BS Scripted TV "reality show"
Guys who started racing for pinks weren't in debt 2 year's salary on a brand new ride with a bunch of high-dollar mods. They'd find a barely running heap, put some sweat equity in it, and race it against some other guy's shitbox. Winner probably salvaged whatever decent parts he needed and took the rest to the junkyard for someone else to start with.
I've not seen someone run for pinks but I did watch a guy take another guys blower and leave him on the side of the road. Back in the day everyone met at the Plit and set up races and then went out to Morris Bridge Road. Guy in a mid 70's Camaro got a race with a 68 Vette. The Vette had a 6-71 on it and they raced for (I don't remember what the Camaro guy put up) The blower. The Camaro won, by quite a bit, and took that mans blower right then and there. Vette guy called a wrecker to come get the car.