My uncle is right here laughing at you with me. He just said: That Iz fella is dumb as dirt. And that's probably not fair to the dirt.
Let's say it again for the folks in the cheap seats: Cash flow is not the definition of an asset. Income produced by something is not the definition of an asset. Levels of market fluctuation do not alter whether something is or isn't an asset (unless it goes to 0 value, which is a different issue/problem.)
Whether you buy insurance for it or not, art is an asset.
The bank does not list your house on their balance sheet as an asset.
Fies U 101B. Free of charge.