Financial assets that are measured by costs?

What does it mean for an asset to be "measured by costs"?

GPYWhat does it mean for an asset to be "measured by costs"?

I want to ask that too:)

Do you mean "measured / carried AT cost"?

These are called "illiquid assets."

The rules for these assets changed with the financial crisis. I recall the term "mark to market."
http://www.investopedia.com/terms/m/marktomarket.asp

maelstrom GPYWhat does it mean for an asset to be "measured by costs"?I want to ask that too:)

It may mean that the assets are valued according to what they cost to acquire, rather than what they may be worth now. I'm not convinced that "measured by costs" is exactly the right phrasing, but I can't immediately think what it should be.

Edit: AS'

GPY maelstrom GPYWhat does it mean for an asset to be "measured by costs"?I want to ask that too:)It may mean that the assets are valued according to what they cost to acquire, rather than what they may be worth now. I'm not convinced that "measured by costs" is exactly the right phrasing, but I can't immediately think what it should be.Edit: AS's suggestion of "at cost"

maelstromBut the reference I'm looking at says that these assets are investment with no public price quotes or measurable fair value,

In that case the "valued according to what they cost to acquire" interpretation seems likely to be correct.

I know a family that purchased a number of paintings over the years. For income tax purposes their purchase value is the basis for determining any profit/gain upon selling them--except when there is the availability of an experienced appraiser. Many are already worth practically nothing but are still based on cost.

maelstromno public price quotes or measurable fair value,

These are called "illiquid assets." They are not participants in a market (eg. stocks, bonds, or residential real estate) which establishes a fair value very frequently, even every day.
Thus it is difficult to place a fair market value on them.