Entrepreneur Konstantin Kraus found his way to art via an afterparty at Frieze London and is sad that this approach tends to be ridiculed in his home country Austria. In an interview with viennacontemporary, he reflects on the beginnings of his collecting and the challenges of finding a foothold in the sometimes dusty Austrian art scene.

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viennacontemporary: We are sitting here at cowerk | DesignPalais, what is this place?

Konstantin Kraus: I co-founded it with two other entrepreneurs. We found this beautiful palace in the center of Vienna; it’s a kind of showroom, event location and coworking space. And I find it so exciting that we bring together investors and business people with creatives, i.e. designers and architects.

viennacontemporary: From design to art, that’s obvious. How did you start collecting?

Konstantin Kraus: A collection is a big word (laughs), I’m just getting started. I bought my first works of art three years ago in London. Very untypical of the stereotype of the well-read continental European, I didn’t come to it through my extensive knowledge of art, but because Frieze has such great afterparties. I went there and was amazed at the variety of people who come together, it’s really unique. That was the original approach. I then realized that people here in Vienna tend to smile at this party approach; it is reminiscent of the stereotype of American collectors with a lot of money but no understanding of art – those who don’t know that Art Basel doesn’t just take place in Miami. But they have a lot of disposable income.

Inside the cowerk | DesignPalais meeting room. Designer lights by ELOA. 

viennacontemporary: Do you think the art market in Vienna is too closed?

Konstantin Kraus: I think it’s actually a bit easier to find connections in other countries. We do have a lot of galleries, many of them with an international focus. But it’s still not easy to find your way in. Maybe I just haven’t met the right people yet.

viennacontemporary: Many people report being shy about entering a gallery. Why is that?  

Konstantin Kraus: I think the approach to it is sometimes a bit dry or old-fashioned. The inhibition threshold for going somewhere is relatively high, because you tend to be judged and, in case of doubt, critically scrutinized – who is this person anyway and does he know enough? People are afraid of exposing themselves with half-knowledge.

viennacontemporary: As an art fair, we are working on breaking down these inhibitions and making it easier to enter the art world by also embracing the commercial character that is inherent in the art market.

Konstantin Kraus: Exactly, I have the impression that this commercial character is somewhat frowned upon in the local art world. But that leads to people only staying in their own environment, which makes it more and more elitist and excludes many people who then turn to London, for example, because it’s much more open there. But I would really appreciate some tips on where I can dock.

Wood furniture by Mowo Studio, founded by Viennese designer Lisa Holzer

viennacontemporary: What exactly interests you about art?

Konstantin Kraus: I’m fascinated by what it does to you. When I was little, we went to museums a lot and my father always said, “Art has to trigger something in you. If it gives you interpretation aids, its a possibility, but you don’t have to take it at face value. More importantly, what does art do to you?”

viennacontemporary: How do you decide which art to buy?

Konstantin Kraus: My wife goes by what she likes and then I look at what would have a good return on investment. I have created an Excel sheet for this. There are special comparison websites where you can see what prices were achieved, what sizes it has… and I’ve put together indicators like I’m used to from company valuations. And so it complements each other quite well – my wife has an eye for beauty and I look at it from the financial side.  

viennacontemporary: So collecting is an investment for you? Would you sell again?

Konstantin Kraus: Art is an exciting asset class in Austria because it is tax-free after one year – something that cannot be said of securities. So it can also be a good investment. But I actually enjoy my works so much every day that I don’t really want to sell anything.  

viennacontemporary: That’s also a good return on investment.

Konstantin Kraus: Priceless, actually.

Konstantin Kraus in his office.

viennacontemporary: Do you buy different media?

Konstantin Kraus: I have two beautiful NFTs from Creepz by OVERLORD, for example. Here, I’m particularly interested in this community idea. It’s actually a bet that things will work out. Like in the past, when a patron commissioned a work of art and had confidence in artists who were perhaps not yet so established. And then I also have the Clase Azul tequila (Día De Muertos limited editions), which come in specially designed bottles. I don’t know yet whether I’ll drink them at some point or not.

viennacontemporary: How did you acquire your first painting in this country?  

Konstantin Kraus: I took part in an auction for the first time and it was insanely exciting, that adrenaline rush when you’re really bidding. I always thought it would be much more boring. My wife prevailed and we ended up with a beautiful painting by Marius Seidlitz for our living room. And the other one was by Hassan Hajjaj, a Moroccan artist.

viennacontemporary: Did you just like it or did it come out of your Excel sheet as positive?

Konstantin Kraus: Both. Of course I liked it, but it actually came out on top in the evaluation. Whenever I see the picture, I’m so happy, it inspires and motivates me. I then continued to follow Hassan Hajjaj on social media. I think it’s a shame not to live in London, for example, because you would have the opportunity to connect directly with these artists and get to know them. It simply gives you the feeling that you might be even closer to the international art scene. I’m here as an interested person, but I don’t know how I could find more access, simply to learn more about artists and their work.

Co-working space. All photos by Maria Belova.

viennacontemporary: There is also a lot going on in the Austrian scene. Are you interested in getting to know them better?

Konstantin Kraus: I have resolved to invest more time in the Austrian and especially the Viennese scene. That’s why I’ve now joined Salon Leopold and go to events with the Circle of Patrons. When you come into contact with people, you find things that you like. I know that there’s also a lot I don’t know. That’s why I’m very open to people taking me by the hand and showing me opportunities.