Yes, if you care for it well, your amaryllis will produce new bulbletts. See this thread for info on care and reblooming: http://www.botanicalgarden.ubc.ca/forums/showthread.php?t=10351&highlight=amaryllis
you can also pollenate the flower with a brush and it will have abulb at the stem of the flowerthat will fatten and have seeds in it. it is very easy to grow from seeds,but takes 2 years to flower
