Hi, Everyone. Time and again, while discussing chips that you (all) have in your collections that I'm searching for in mine, I'm hearing many of you say that your kids/grandkids/siblings aren't interested in your collections and you a) don't know what to do with your collection when you're gone, b) plan to sell your collections, in whole or piecemeal, before you pass, c) you're going to let your kids inherit your collection and let them figure out what to do with it, but d) you're not ready to sell your chip(s) to anyone right now. Well, I'm a patiently impatient person, so I came up with this idea...

Has anyone considered pre-selling their chips/collections, in whole or in part, to another collector (or consigner, auction house, or other interested party)?

Here's how I envision something like this working... Let's say that you have 5 chips in your collection that I'd like to have but you're not ready to part with right this moment. We agree on a price that I'll pay for the chips today (factoring in book value, realistic value, time value, retention period, and various other wild-a**-guesses), but you keep them in your collection a) for a specific period of time, b) until you're done "collecting" and are ready to unload/sell your collection, b) you pass away. In a), you simply send the chip(s) to me after the specified period of time. In b), you send me the chip(s) when you decide you've enjoyed it enough and you're ready to let me have it. In c), you bequeath the chip(s) to me in your will. Or combine the above into an "whichever comes first/last" situation.

In all cases, a binding, irrevocable agreement would be in place to make sure everyone in your life knows you entered into an agreement willingly and were ALREADY compensated fairly. Legal matters like "what if the chips are lost or stolen after the sale but before the chips are to be turned over to the buyer?", "what if seller changes their mind?", "what if buyer/seller move or lose contact?" would have to be figured out, naturally.

This differs from an option in that the buyer is not paying a fee to have the right to purchase at a future date, nor is it a right of first refusal. It's literally paying the seller today for value to be received later.

Obviously, the example I used was for a small number of chips, but it could be for an entire collection. And the payment wouldn't have to be a lump sum up front. It could be payments over time, with a balloon payment upon the execution of the a), b), or c) options. Or payment could be deferred and made to the estate rather than the living seller (I think). If the collection is large enough, perhaps it could be placed into a trust, with the buyer as the beneficiary of the trust. I'm sure there are endless ways to set this up so both parties are happy. Seems to me this is similar to selling one's life insurance policy or getting a reverse mortgage.

I again apologize if this appears to be morbid or attempting to take advantage of another based on age, medical condition, or other situation. Please share your CONSTRUCTIVE thoughts on this idea.