They are obviously liabilities because in an onset, it is not considered an asset neither does it profers you financial benefits and incomes generations at the times of its usage with you. They are basically termed to attribute your personalities with the huge tittles of living an expensive life with expensive belongings. There is no financial benefits with such status of portfolios.
The benefits are only limited to social status in society because there are not many people who wear expensive goods in society so those who are like that will be seen as rich people who are considered successful. In fact, there are no benefits other than that, unless someone can collect rare expensive items to resell at a higher price to other rich people. Because most rich people like that are looking for profits through this other than through their own business from various fields and sectors that are more focused on.