A collector's item is an object that is sought after and valued for its RARITY, age, condition, utility, or other unique features. DEBT, BILL, repo, RARITY, CURIO, RELIC, RENT, IOU, SET, and WASTE are all terms related to collector's items. DEBT is money owed by one party to another. A BILL is a written demand for payment. Repo is the act of repossessing property due to nonpayment. RARITY is the quality of being rare. CURIO is an unusual or interesting object. RELIC is an object surviving from an earlier time. RENT is a payment made periodically by a tenant to a landlord in return for the use of land or property. An IOU is an informal document acknowledging a DEBT. A SET is a group of objects that belong together. WASTE is the careless or needless destruction of something.