Tulips were introduced to Europe from the Ottoman Empire in the 16th century and quickly became a luxury item in Dutch society. The flowers were highly sought after, leading to an unprecedented demand and a booming market. By the early 17th century, tulip bulbs became a form of speculative investment, with prices skyrocketing as people bought bulbs on credit, hoping to sell them for a profit. The market peaked in 1636-1637, with some bulbs reaching prices equivalent to a luxury home. However, this bubble burst in February 1637 when buyers failed to show up for an auction, leading to a rapid decline in prices. Panic selling ensued, and many investors were left with worthless bulbs and huge debts. The market collapse had significant economic repercussions, and tulip prices eventually returned to normal levels. This event, known as "tulip mania," is often cited as the first recorded speculative bubble and crash in history. #DutchHistory #Economic #EconomicHistory #Flower #History #Investments #MarketBubble #MarketCrash #SpeculativeBubble #Tulip #TulipCrash #TulipMania #4s+ #foursplus