In 2009, she auctioned the Andy Warhol painting 200 One Dollar Bills, which she had bought with her late husband Constantine Karpidas. Characterizing the 1962 painting, art dealer Tony Shafrazi said, "We’ve seen nothing like this recently [come to auction], this is a masterpiece." The Karpidases paid $385,000 for the painting at a 1986 Sotheby’s sale. After a dramatic "bidding war" the painting realized $43.8 million. Karpidas made more than 100 times what had been paid in 1986.
Karpidas is a patron of young artists whose work she displays at her workshop gallery on Hydra, Greece. Each Summer, since 1999 the London-based collector hosts over 100 guests on the Greek island of Hydra to view the latest additions to her Ophiuchus Collection on display at her Hydra Workshop.
She is a benefactor of the Tate and the Sir John Soane Museum in London, and an education centre at New York’s New Museum is named after her and her late husband—The Pauline and Constantine Karpidas Education Center. In a 2007 interview with journalist Marina Fokidis, Karpidas said of her Hydra Gallery,
Having lived now for almost 35 years in Greece, and having been part of the Greek heritage through my marriage to my late husband, Constantine Karpidas, this is a way for me to continue his legacy, his involvement with and support of the arts.
In 2012, Karpidas donated a vast sum of money to the University of Manchester, particularly to the Manchester Access Programme.This includes the prestigious Karpidas Excellence Scholarship.
- Unattributed, "Andy Warhol's 200 One Dollar Bills silkscreen sold for $43.8m The Daily Telegraph, november 12, 2009
- Colin Gleadell, "Art market news The Daily Telegraph, November 17, 2009
- Marion Manaker, "More on Karpidas Art Market Monitor, November 17, 2009.
- Lindsay Pollock and Philip Boroff "Warhol’s ‘200 One Dollar Bills’ Fetches $43.8 Million in N.Y.," Bloomberg, November 12, 2009
- Rachel Chandler, "Nate Lowman in Hydra," The New York Times, July 27, 2009
- Colin Gleadell Art market news The Daily Telegraph, November 17, 2009
- Katerina Gregos, "Hellenic Contemporary. The Modern Identity of Greek Art Archived 2011-07-11 at the Wayback Machine." Flash Art, Summer 2007
- Unattributed, "Diary, The Art Newspaper, June 4, 2008
- Coles, Sadie & Karpidas, Pauline (ed.) Package Holiday: New British Art in the Ophiuchus Collection (1997) Works by Damien Hirst, Tracey Emin, Sam Taylor-Wood, Gary Hume, Angus Fairhurst, Paul Noble, Sarah Lucas, Don Brown, Chris Ofili, Richard Patterson, Peter Doig