I guess it can happen, but it was a surprise to me. I have worn out a necktie.
The silk there has worn away on the side, exposing the cheap support fabric beneath. I've never seen anything like it.
It's a Bert Pulitzer tie; I was given it in the 80's by a guy who bought a supply of ties every year, and this was one of maybe ten or a dozen "last year's ties" he gave to me. It wasn't a top brand, but it wasn't cheap either. And while I wear ties daily now for work, I didn't for almost a decade when I worked in the welfare office.
It was one of my collection of "power ties" from the era (for no reason I can figure out, ties with a yellow ground color were among the "power ties", as I remember).
I have plenty more, and I'm buying bow ties these days, anyway. But I thought it was a curiosity worth marking... and now I'll probably never think of it again.