By Caroline Briggs BBC News entertainment reporter

www.MA is priced at £300,000

A contemporary artist has set up a virtual gallery where art lovers can buy a piece of digital art that comes with its own unique web address.

Stephen Rumney's "online art installations" form part of his Domain Art exhibition.

As well as the online image, the buyer becomes the legal owner of its integrated website address and an art gallery installation of the image.

Rumney said the three elements make up the whole installation.

'Real estate'

Prices of the installations range from £6,000 for Untitled.com, to £300,000 for www.MA.

Artworks for sale in the gallery include a portrait of modern art mogul Charles Saatchi, which can be viewed on the website CharlesSaatchi.com.

Another piece, called TheFutureofArt.com, also comes with a website of the same name and costs £18,000.

Rumney told the BBC News website that Domain Art "reflects the unstoppable trend towards commercial globalisation".

Rumney said his work explores global consumerism

He said: "The person who buys a particular artwork will own a piece of global real estate.

"Not only do they buy the rights to a work of art to be shown in a gallery, they also own the website and can view their artwork on it.

The London-based artist said Domain Art represented "the madness of consumerism, the artworld and life in the 21st Century".

"What I have are artworks that reflect the spirit of living in the modern world," he added.

Rumney said his favourite piece was RecliningFigure.com, which was inspired by the sculptor Henry Moore.

The buyer would own the website, the online image and the actual work itself - a dentist's chair - which could be displayed in a gallery.