In one of the Boba Fett comics, there was a story where three Hutts were competeing with one another to prove who was 'the best' among them. Jabba, of course, had the Fett, and considered himself the superior.
Given this state of thought (ie, warlords, crime lords, and the such), the golden rule of "He who dies with the most toys..." is in full effect. Jabba was said to have several palatial mansions, with many speeders, ships, slaves, bodyguards, and the such. Seriously, he could afford smuggling operations (like Han and Lando) and Boba Fett, who was widely believed to be the best Bounty Hunter in the Galaxy, as a bodyguard.
So, to your question...
Jabba, though a depraved pervert amongst depraved perverts, could not physically have sex with a human due to biological constraints and physical limitations. Though they did not reproduce asexually (again a Boba Fett comic), they could only do so with other Hutts. Now this isn't to say that he couldn't have, say, that pig-faced guard ordered to do the deed and simply watch; Jabba definately strikes me as that kind of slug (pun intended). Leia, after all, is Princess Leia Organa, Princess of (formerly) Alderaan. The metal bikini was a choice of degradation and submission; he was putting her in her place. The chain was to show all that she was his pet slave. Seriously, he fed Oola, the Twi'lek cutie, to a Rancor (wasteful). If he wanted to make an example or an impression, there would be no limit with the Don of Dons in the Star Wars Galaxy.
IMHO, this would elevate Jabba's status as he is now the proud owner of a royal member of some form of nobility. Imagine Al Capone having Sarah Fergeson on a chain in a cute little number sitting on the floor next to his throne. Jabba is the pinnacle of crime lords, as even Republic entities tend to tred carefully around him, and Jabba is well known even outside of Hutt space. Jabba was Noriega and Escobar wrapped in Castro cigar.
Jabba the Hutt; innovative designer of female domwear since 3 ABY (1983).