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Avas Flowers -In business since 1977, Avas Flowers possesses a reputation as one of the nation’s leading florists.

Avas Flowers Explains the Tulip Craze

on August 22, 2013

The Great Tulip Craze

There have been many financial bubbles throughout history, but one of the strangest appeared in Dutch Republic during the 17th century. It was all about the craze for tulips. Although the tulip is associated with the tulip, its is not native. It was brought by a botanist and planted in his garden. They must have been impressive because soon someone stole some bulbs. Thus started the bulb trade and soon tulipmania struck.

Tulipmania

Over the ensuing decades, growing tulips became a full time fad among the rich. As the frenzy continued, prices began to rise. Pretty soon even common bulbs where fetching extreme prices. Some rare bulbs were selling for over what would be $2500 in today’s currency per bulb. A whole trading community developed dedicated to the buying and selling of tulip bulbs. A trader could earn over $60,000 a month. But soon disaster struck, the bubble burst, some buyers failed to pay and panic set in. Soon bulbs were worth less than one percent of their previous value. Fortunes were lost when the craze died. Strange but true.

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