A category of assets that cannot be easily and quickly converted into monetary assets (particularly, cash or cash equivalents). Examples of liquid assets include a real estate, machinery or a business venture (generally, fixed assets, tangible assets: property and equipment, machinery and plant, etc.)

Conversion of such assets into money may come at a considerable or huge cost as reflected in the impact on the selling price and the amount that can be secured from sale, not to mention the time cost involved- the time needed to liquidate the assets.)

Illiquid assets are opposite to liquid assets that, due to high marketability, can be sold or liquidated at a minimum cost, if any, and in the shortest time interval possible.