Gerd Altmann/Pixabay.com (CC0-PD) In finance, the term "collar" usually refers to a risk management strategy called a protective collar involving options contracts, and not a part of your shirt.
This as-told-to essay is based on a conversation with Koyaana Redstar, the head of luxury buying at Luxe Du Jour, an online luxury boutique for vintage designer handbags. It has been edited for ...