You got a 5k diamond ring...that's individual asset. You got a 4K TV...that's individual asset. Individual assets don't hold good value because they are poor liquidity. Who's going to consider your 5k ring 5k? The jewelry store will give you maybe 1k. Your 4K TV you bought for 2k is probably going to fetch your $300. Some might even call this liabilities... Other types of assets like this are inventory. Most company price in their inventory at the fully loaded price on their books but really it's worth JUNK most of the time unless it's common kanban material. For example, company A bought a bunch of custom metal piping. Unless a company B has a need for those same metal piping, the custom metal piping is JUNK. On the books company A is listing them at $1000. In liquidation, the asset is probably worth like $0 if nobody have any use for it.
For example, I ran a company where we had like 3M in inventory. It's only worth 3M in inventory if you can transform the inventory into usable devices. Otherwise, these custom parts, we throw away. Thus our books was padded. Our real assets were just equipments and cash on hand. Shitty business to be in.