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Tulip Mania
(redirected from Semper augustus)

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Tulip Mania
History's first major asset bubble. Tulips were introduced to Europe from the Ottoman Empire in the mid-1500s and became very popular in the Netherlands. As they grew in popularity, prices for tulips rose steadily, then unsustainably, in the 1630s. Prices suddenly collapsed in February 1637. Interestingly, tulip mania resulted in the creation of a formal futures market and marked one of the first times when contracts were traded without exchanging the underlying asset.
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Not long afterwards, the flowers became such a hit in the Netherlands that one bulb, the most famous one called Semper Augustus , sold for as much as 6,000 florins (the average annual income at that time was only 150 florins).
Holland, the Land of Flowers by Timothy Spencer / Agricultural industry community
The cost of a large house was less than the price of a single bulb of Semper Augustus.
Tulips are a lovely Dutch; Spring is in the air and the tulip makes a ... by Chudziak, Janet Wheatcroft Bill / Daily Record (Glasgow, Scotland)
 
 
 
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