Looking to spruce up your outfit with artist Rob Wynne's "blood jewelry"—red pins that will make it look as if you've been cut or dripped upon? Look no further than Grey Area, the online marketplace for artist-designed objects and designer-created artworks, which launches today.

The site is named for the "grey area" between art and design, said Kyle DeWoody, creative director of the new venture.

"Many artists already make this kind of work, but have shelved it in their studios," said DeWoody. "There would be no way to buy it unless you did a studio visit."

Prices are high for this work, but less than a work of art or even high-end furniture. A roll of wallpaper by Kiki Smith is $850, and Aaron Young's gold tire swing is $20,000. Cheaper options include artist-designed towels produced by Art Production Fund ($95).

DeWoody, daughter of noted collector Beth DeWoody, has teamed up with web entrepreneur Manish Vora. A former Citigroup investment banker, Vora launched the website Artlog in 2007, aiming to give newbie collectors access to art events and artworks.

A pop-up shop will arrive in the Hamptons from July 22–31, catering to houseguests hunting for an unusual hostess gift. "Ladies get bored at the beach and they go shopping," said DeWoody.

The duo plan to set up temporary outposts in Los Angeles in September, Miami in December and New York during the Armory Show, to coincide with various art fairs. DeWoody and Vora plan to work with local artists in each venue.