Tulip mania was the 17th-century market bubble centered on tulip bulbs in the Dutch Republic.
Tulip prices rose dramatically during the Dutch Golden Age, especially for rare varieties with distinctive color patterns. Contracts for bulbs could be traded before the flowers were delivered, allowing speculation to expand beyond ordinary horticultural demand.
The market collapsed in February 1637 after buyers failed to appear at an auction in Haarlem. Prices fell sharply, but historians debate how extensive the damage was and whether the episode affected the entire Dutch economy. Popular retellings often portray tulip mania as a national economic catastrophe, a claim not fully supported by the surviving evidence.
The episode remains a famous example of speculative bubbles. It is also distinct from later English and French bubbles: the South Sea Bubble and Mississippi Bubble occurred in the early 18th century and involved company shares.