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We are in the Netherlands of 1600, a country that has recently obtained its independence from Spain, in fact the independence of the United Northern Provinces had been formally recognized by the Spanish Kingdom with the Peace of Antwerp of 1609.
The Netherlands in the 17th century was moving towards what would be its golden age, a period of great colonial and commercial expansion. The Seven Provinces became the most important mercantile center in all of northern Europe and precious goods from all parts of the world arrived in Dutch ports. One of the most prized and requested products on the markets were precisely flowers. In particular tulips which, from 1500, began to be exported from Turkey throughout Europe. Holland in the 1600s was the main driving force behind their diffusion.
Thus, many tulip plantations arose throughout Orange Country. Within a few years, the cultivation and sale of tulips became a very flourishing market. In the first half of the 17th century the demand for tulip bulbs was so high that it reached considerable prices. In 1635 a record sale of 40 bulbs for 100,000 florins was recorded and in the Harlem market one bulb was paid the record sum of 6,000 forints.
In 1636 the bulb officially became the country's 4th most exported product.
This increasingly growing market generated continuous growth in prices and soon demand exceeded supply. Many traders began selling bulbs that had recently been planted or even that would be planted immediately.
The tulip was a luxury commodity and a status symbol. Many Dutch people began to sell properties or businesses in order to speculate on the tulip market.
This speculative trend reached its peak in February 1637 even if within a few days the price of tulips suffered a vertical collapse.
The tulip bubble manifested itself in the Alkmaar auction of 5 February 1637, in which the many lots of bulbs were sold for a total of 90,000 florins, reaching the market peak.
In the following days the tulip climb turned into panic when no one showed up at the auction at the Haarlem market and the price of tulips suddenly collapsed throughout the country.
Despite operators' attempts to stem the situation, the market collapsed and the demand for bulbs which, until a few days earlier seemed endless, disappeared.
All those who had purchased the bulbs for huge sums found themselves with nothing in their hands.
Many had to pay very high prices for bulbs that had not yet been planted in a context that no longer had that price level and many others owned tulips that were worth less than a tenth of what they had been paid for.
In this context, many Dutch people, businessmen, merchants and speculators fell into ruin and the first economic crisis in history was generated as all attempts to legally resolve the issue were in vain.
Many years after this page of history, the tulip remains a much appreciated flower that blooms in the month of March. On the Faxiflora website you will find a wide choice of tulips that you can conveniently have delivered to your home or send to the person you wishes in every part of the world!