I wouldn't pay more than $100 for a collar...
I used to think expensive leather/custom/fancy collars were for purse dogs, but they are actually WELL worth the price if you buy from a reputable source. Fozzie's leather collars were $80 & $60, but they both still look flawless after 1+ years. I used to buy standard rolled leather collars from Petsmart or whatever, and they would last 1-2 years. I bought Gonzo a $50 rolled leather collar online from a really amazing leather company, and the difference is striking.
This one only gets better with wear, and is unphased by constantly getting wet.
If they're going somewhere that I know they'll get filthy, like the trails where Fozzie loves rolling in unidentifiable substances, I usually throw on Lupine collars... but only because I don't feel like spending time cleaning the leather.