What Is A Tulip Craze?

While it may be hard for some to imagine connecting the beautiful and calming flower, the tulip, with the word “craze,” this has definitely happened. People are enthralled with many things, from flowers and trees, to toys and motorcycles. Individuals around the world spend most of their working lives studying, growing and enjoying flowers such as the tulip.

There really was a tulip craze or mania during a period of time known as the Golden Age in Holland. According to historical accounts, the price of tulip bulbs rose to an extremely high level. In the mid-1600s, contracts for delivery of tulip bulbs were worth more than professional workers and skilled men made in a year’s time. Some refer to this as the first “bubble” in that it was similar to the rush on commodities that we have seen in more recent years.

A journalist named Charles Mackay documented the extraordinary prices of tulip bulbs at the time, noting that some men and families were actually bankrupted by the speculation in the tulip craze. Critics state that Mackay may have exaggerated the extent of this mania and doubt that such speculation actually took place. Research supports the critics, to a certain extent. Other flowers supposedly had similar high prices when they first became popular among the residents.

It is interesting to note that, although the tulip is always associated with the Dutch and with Holland, the flower was brought to Europe from points further east. Dutch botanists and others began to work extensively with this flower, after bulbs arrived from Turkey and other places on the Asian continent. In short order, the tulip became an item of luxury. Some grew or purchased the flower because it was seen as a symbol of a person’s status in society.

As more people became involved in the craze, several different colors and varieties were introduced. The tulip was found in red, white, purple/white and even red or pink with a white touch. Dark colors with a yellow backing became quite desirable at the time. As tulips became more desirable, the most talented growers assigned their varieties with interesting names, intending to make a specific type even more desirable.
According to most scientific evidence, growing desirable varieties/colors can take a period of years. Patience is one of the necessary traits for tulip growers and buyers. In most climates, a tulip only blooms for a short time, usually in April and May. The Dutch are known for establishing many of the finance/trade systems we use today, and this is also true for contracts on tulip bulbs. Prices for tulips in 1636 and 1637, during the so-called tulip craze, went from a low level in November to a point of 6 to 10 times the original price and back again in about six months.

According to some narratives, a few contracts on tulip bulbs during the 17th century craze were assigned more value than an original Rembrandt. Since this unique flower was considered exotic, many people were willing to pay exorbitant prices to own certain colors and varities.

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