Krauz began his studies at the Vienna Academy with Franz Rumpler, and then went to the famed Academie Julian in Paris. After returning to Vienna, he worked mainly as a portraitist, and was especially popular among Viennese actors and other celebrities. His greatest fame originates in his depictions of the last ruling members of the Habsburg royal family. During the war years of 1915-1917, Krausz accompanied Austrian troops to the Balkans, where he established a reputation as a painter of battles and soldiers.

Erika Esau, Pre-Modern Art of Vienna 1848-1898, Edith C. Blum Instutute of Bard College, 1987.