In Holland, there was a wave of speculation in the 17th century, the “tulipmania”, which has no parallel in the world of economy. The colorful tulips became exclusive garden flowers and were exposed to stock exchange speculations where the prices galloped hysterically. One bulb could be sold for 1,200 guilders in 1624, and in 1625 the price already doubled. The hysteria had its peak in 1637, when a bulb could be sold for 10,000 guilders – to be compared with the price of a canal house in Amsterdam which at the time was 30,000 guilders!
