Windmills, wooden shoes and tulips: those are the most popular Dutch trademarks. But tulips don't even grow in the Netherlands originally: they were brought to the country in the late 16th century from the Ottoman Empire (roughly the area that is now Turkey). It was discovered that they could grow in the Low Countries very well, even despite the harsh climate. In the first half of the 17th century, they grew immensely popular because of their intensely colored petals, incomparable to any other plant growing in the Netherlands.
The popularity of tulip bulbs soon turned into a frenzy. Traders were willing to pay prices that exceeded the value of the most expensive canal house in Amsterdam for a single bulb (about 10.000 guilders). To compare: the average income of a Dutchman was about 150 guilders.
The tulip bubble reached her height in the winter of 1636-1637 and collapsed in February 1637, when a trader suddenly could not sell his goods. In the days that followed, the prices descended drastically: the tulip mania was over.