$2,500 for a bulb: is the snowdrop craze the world's next speculative bubble?
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Version 0 of 1. Back in 1637, there was a tulip bubble in Europe. In what is now seen as the first ever example of the speculative bubbles which haunt us today, individual bulbs of special varieties changed hands at ridiculous prices. Accurate records from so long ago are hard to find, but two tons of butter is said to have been given for one bulb, and 12 acres of land offered for another. Fanatics were delighted, then depressed as, inevitably, prices collapsed. The whole phenomenon was recounted in the book Extraordinary Popular Delusions and the Madness of Crowds. Now it’s happening again, with snowdrops (Galanthus). True, prices are not yet reaching the farcical levels paid for tulips 400 years ago, but extraordinary prices are being paid for individual bulbs of rare varieties: $400 in 2008, $550 in 2011, $1,115 in 2012 and $2,500 in 2014 (at current exchange rates). For one bulb! So what’s going on? The snowdrop is often the first flower of spring. Just a few inches tall, the small bulb supports a slender stem which arises from between a pair of narrow leaves, and at its tip a single white flower dances in the breeze. Each flower has three white teardrop-shaped outer petals and three shorter inner petals, each tipped in green. Its pure color, poise and the resilience with which bulbs spread in most garden conditions, along with our joy at their appearance after winter, all encourage devotion. They are easy to grow, and tough, often pushing through the snow to bloom; some even surprise us with their scent, and they are lovely cut for small posies. But on top of that, snowdrops are unusually adept at producing variants. Double-flowered varieties, with the three inner petals multiplied many times over into a tight cluster, are the most widespread; some varieties have entirely green or entirely white inner petals, others feature green splashes on the outer petals. A few even have yellow markings instead of green. It’s these tiny variations that captivate enthusiasts. Native to Europe and western Asia, the snowdrop consists of 20 wild species. One of these, Galanthus nivalis, is occasionally found growing, apparently wild, in our eastern forests, but the picturesque drifts are almost always the descendants of plants grown on lost homesteads long ago. In Pennsylvania’s Delaware Water Gap national recreation area, drifts of snowdrops have established themselves alongside a small creek but have declined since I first found them nine years ago. In the Maryland woods, they have been described as an “infestation”: a cruel term for such a delightful, and harmless, European guest. Usually happiest in partial shade, snowdrops appreciate good light and moisture in winter and spring, followed by shade and drier conditions in summer – they are ideal under deciduous trees or shrubs. Plant them under Asian witch hazels and with hellebores. Snowdrops are adaptable: many will tolerate both hot summers and winters down to zone 3. In my Pennsylvania garden, they increase well, and deer, chipmunks and squirrels have never eaten them. Unfortunately, snowdrops dislike the warm winters in the south. I have grown about 30 varieties, and taking the prices into account, I would recommend starting with the easiest wild species – the dainty, small-flowered Galanthus nivalis. Then consider those that are noticeably distinctive, robust and reliable: Flore Pleno has a mass of rather disorganized petals in the center of the flower; Magnet is one of the most elegant, with large flowers swinging on long stems; S Arnott is big and bumptious with a very sweet scent; Viridapice has a bold green mark at the tip of each outer petal. And when will the bubble burst? In 2012, the British seed and plant company Thompson & Morgan paid $1,115 for one bulb of a variety called Elizabeth Harrison, which has yellow markings – but two years later they still have only one bulb. Nurseries are working hard to develop techniques for quickly propagating snowdrops in large numbers, and when that happens look for prices to fall. In the meantime, start with good value, tried and tested varieties, and treat yourself to something special when those have proved they thrive. Mail-order sources Brent & Becky’s Bulbs – Bulbs are sent dry for fall planting; order early and plant as soon as bulbs are received. Carolyn’s Shade Gardens – Bulbs are shipped in flower in spring, when they settle in quickly. Linden Hill Garden – An impressive range of varieties; plants shipped in flower. Temple Nursery, Box 591, Trumansburg, NY 14886 (no website) – Popularizing snowdrops in North America for almost 20 years; send $4 for a mail-order catalogue featuring mainly rarities. Bulbs are sent in spring. Snowdrop events Snowdrop Garden Experience – 7 March 2015. Winterthur garden in Delaware, with lectures, tours and plant sale. Celebrate Spring: Hellebores and Snowdrops – 21 March 2015. Rare Find Nursery in New Jersey, with talks and snowdrops (and hellebores) for sale. Temple Nursery – 4 April 2015. Hitch Lyman’s famous garden and nursery will be open for The Garden Conservancy. |