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The TOWIE star explained she made the X-rated video with a former partner, and already had planned out how and when she would release it.
Speaking candidly, Gemma explained: "Well course, I might go skint one day, and I've got to do a Kim K. Do you know what? Sex sells.
"It's probably about 20 minutes long, but we've all done it with our partners, you know. I'm normal.
"You'll be the first one I show it to and then you can help me ring round getting the bids in for it. Million quid, if not more.
However, the meme queen decided to reconsider when host Piers, 55, questioned her motives - and asked whether "everything" she does is for sale.
"I'm not prepared to do it," Gemma said. "I'd rather go and work 24 hours a day, seven days a week, 365 days a year before I'd have to resort to that."
Gemma was revealed to be a guest on Life Stories by Piers on Twitter, which saw an outpouring of abuse from trolls.
Piers was left so stunned by the response he decided to address the trolling on Good Morning Britain.
"I talk about the trolling she's got and whether you love her or hate her - she's got two million fans on social media who love her and she's got other people who can't stand her - she's a reality TV star who plays up to her character much like Katie Price," he said.
"Whether you do [like her] or not, no one should have to put up with people on Twitter, spewing the kind of vile abuse and death threats that they have been spewing at Gemma Collins. The moment I announced it on Twitter, out it poured, people saying 'I hope you die', literally.
"Gemma Collins [may be] a more divisive, polarising figure but she shouldn't have to have people wishing her dead on a public platform with no repercussions for people that do that."
Life Stories will air Thursday at 9pm on ITV.
Featured Image Credit: Instagram: gemmacollins
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