bliz... exactly right because you discussed it beforehand. The token of ownership which actually represents your gift of power to him... probably should remain with him... regardless of how or when the collar (and, in your case, cuffs) were obtained and 'exchanged'.

Likewise, all else are chattel-gifts. Such gifts from dom to sub should remain with the sub. Such gifts from sub to dom remain with the dom.

I think we're all pretty much in agreement... but am interested to hear any other takes on this.