People paid a large amount of money for a tulip bulb so they could brag about it and show how rich they were ("Yeah, I can afford paying 2000 bucks for this flower"). Eventually, people started paying more and more outrageous prices to appear extremely wealthy, and obviously pricing these bulbs for thousands of times their worth was going to cause a problem. Here is an article that's a bit more in-depth, I'm not sure what you need:
http://en.wikipedia.org/wiki/Tulip_craze
Why was the tulip such a craze in the 1600's?
The tulip became a kind of "stock" and people were using it much like we use stocks today as an investment. The problem, of course, was that the bottom fell out and many people were financially hurt, just as those who bought stocks on margin during the 1920's lost their investments on overinflated stocks.
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