Collection administrators have the ability to move items from one collection to another, granted they are collection administrators for both collections. To move an item:

1. From the item page, click on Edit Item in the left side bar.
2. On the Item Status tab, click Move.
3. Select the collection you wish to move it to (the drop-down menu will list all of the collections for which you are an administrator).
4. Check the Inherit policies box.
5. Click Move.