I think it is the best solution, provided by Java API - we can simply put desirable business logic of sorting into the method "Comparator::compare()".
I do not any reasons to invent anything else.

For example:

import java.util.Comparator;

public class MyItem implements Comparator {

.......

public int compare(Object o1, Object o2) {
// your business logic of sorting
}

public boolean equals(Object obj) {
// see Sun comments here
}
}

So, we can put objects of MyItem class into appropriated collections (for example, any implementation of SortedSet interface: TreeSet etc.)