A 6 month period in Dutch history around the end of 1637 when the prices of tulip bulbs soared to absurdly high levels, as much as 10 times the annual salary for a skilled worker for a single bulb. This was due to the recent introduction of the flower to the country which had no similar domestic flora and so became regarded as a luxury. As demand and prices for the bulb increased, so did speculation of the bulbs. In just a few short months, people had begun selling all of their worldly posessions to fund a single purchase, expecting to resell the bulb in a few weeks and make their investment back several times over.

Like all speculative bubbles, it collapsed suddenly and dramatically, with speculators losing vast amounts of money. It is notable for being the first economic bubble in recorded history.