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 | Tulip Mania (Dutch speculative market, 17th century) | |
| Note: Speculative market in 17th-century Holland for the sale of tulip bulbs. Tulips had been introduced into Europe from Turkey shortly after 1550; new varieties were propagated, particularly white-and-red varieties, which became popular and very expensive. The demand for differently coloured varieties of tulips soon exceeded the supply, and prices for individual bulbs of rare types began to rise to unwarranted heights in northern Europe. By about 1610 a single bulb of a new variety was acceptable as dowry for a bride, and a flourishing brewery in France was exchanged for one bulb of the variety Tulipe Brasserie. The craze reached its height in Holland during 1633–37. Before 1633 Holland’s tulip trade had been restricted to professional growers and experts, but the steadily rising prices tempted many ordinary middle-class and poor families to speculate in the tulip market. Homes, estates, and industries were mortgaged so that bulbs could be bought for resale at higher prices. Sales and resales were made many times over without the bulbs ever leaving the ground, and rare varieties of bulbs sold for the equivalent of hundreds of dollars each. The crash came early in 1637, when doubts arose as to whether prices would continue to increase. Almost overnight the price structure for tulips collapsed, sweeping away fortunes and leaving behind financial ruin for many ordinary Dutch families. | |
Display Date: reached its height in Holland 1633-1637
Names:
| Tulip Mania (Dutch speculative market, 17th century) (preferred,English-P,D,P) |
| Tulip Craze (Dutch speculative market, 17th century) (English) |
| Tulpenwindhandel (Dutch speculative market, 17th century) (Dutch-P,D) |
Hierarchical Position:
Other Relationships:
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role/characteristic is .... commodity markets |
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.....(exchanges (financial building), financial institutions (buildings), commercial buildings, single built works by function, single built works by specific type, single built works (built environment), Single Built Works (hierarchy name), Built Environment (hierarchy name)) (AAT) |
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topic is .... tulip (genus) |
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.....(Liliaceae (family), Liliales (order), Liliopsida (class), Angiospermae (division), Plantae (kingdom), Eukaryota (domain), living organisms (entities), Living Organisms (hierarchy name)) (AAT) |
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located in .... Holland |
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.....(Netherlands, Europe) (TGN) |
Sources:
Iconography Record Sources:
