Tulipomania

Book excerpt: 'A fascinating exploration of human greed and self-delusion and also a tribute to our ageless search for beauty' DEBORAH MOGGACH. In 1630s' Holland thousands of people, from the wealthiest merchants to the lowest street traders, were caught up in a frenzy of buying and selling. The object of the speculation was not oil or gold, but the tulip, a delicate and exotic bloom that had just arrived from the east. Over three years, rare tulip bulbs changed hands for sums that would have bought a house in Amsterdam: a single bulb could sell for more than £300,000 at today's prices. Fortunes were made overnight, but then lost when, within a year, the market collapsed. Mike Dash recreates this bizarre episode in European history, separating myth from reality. He traces the hysterical boom and devastating bust, bringing to life a colourful cast of characters, and beautifully evoking Holland's Golden Age.