Tulips Arrive in the Netherlands
In the 16th century, tulips were introduced to the Netherlands, quickly becoming a status symbol among wealthy merchants. The flower’s rarity and beauty, especially the “broken” multicolored varieties, fueled high demand.
The Peak of the Trade
By the 1630s, tulip prices soared. A bulb named Semper Augustus, with its striking red and white petals, sold for more than a luxurious Amsterdam house. Speculation grew, with traders offering huge sums for bulbs yet to bloom.
The Market Collapse
In 1637, the market suddenly crashed. Many defaulted on their agreements, but contrary to legend, it didn’t ruin the entire Dutch economy. Most participants were wealthy merchants, and while some suffered losses, the impact was not as catastrophic as often portrayed.
The Origins of the Myth
The exaggerated stories of widespread ruin stemmed from later moralistic accounts warning against greed and speculation. Historian Anne Goldgar’s research reveals that while tulipmania did occur, its effects were localized and far less dramatic than popular lore suggests.
Tulipmania: The Myth vs. Reality 🌷
Tulips Arrive in the Netherlands
In the 16th century, tulips were introduced to the Netherlands, quickly becoming a status symbol among wealthy merchants. The flower's rarity and beauty, especially the “broken” multicolored varieties, fueled… pic.twitter.com/HBIHVoJCck— Detective Tiger's Stories (@TigerDetective) September 28, 2024