Tulip Mania was a period during the Dutch Golden Age in the 17th century when the prices for some tulip bulbs reached extraordinarily high levels.

Tulips, introduced to the Netherlands from the Ottoman Empire, became a fashionable and highly sought-after luxury item.

The most prized tulips were those with rare and vibrant color patterns, which were actually caused by a virus.

A speculative market developed, with people buying and selling tulip bulbs for a profit.

At the peak of the mania in the winter of 1636-37, some single tulip bulbs were reportedly sold for more than the price of a house in Amsterdam.

A futures market emerged, where people traded contracts for bulbs that had not yet bloomed or been harvested.

People from all social classes participated in the speculation, hoping to get rich quick.

The bubble burst abruptly in February 1637, leading to a sudden and dramatic collapse in prices.

Many investors were financially ruined when they were left holding contracts for bulbs that were now worth a fraction of their purchase price.

Tulip Mania is one of the most famous historical examples of a speculative bubble and the psychology of market manias.