To Me, the collar is the final step in the process of training a slave. The prize at the end of the journey that both it and its future Owner strive for.
The importance of that collar, to Me is even more important than that of a wedding ring. A wedding ring shows a type of ownership in the vanilla world but a collar, especially a locking one shown off in public, is a stark indication of the kind of dynamic the slave and Owner share.
It shows incredible trust, comfort and the willingness of the slave to serve and the Dominant to teach and guide.
Personally, in time I'd want both a collar and a ring adorning My slave.
I am a private Man in My everyday life, but, once the right female is found and trained, I would happily show it off to the world with pride.
I would want the slave in question to be grateful enough for this gift as well to wear its collar eagerly and with the same pride.