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(USA TODAY) A golden-haired Tibetan mastiff puppy has reportedly been sold for a whopping $2 million in China, potentially making it the world's most expensive dog.

The pup was sold at a premium pet fair in the eastern province of Zhejiang on Tuesday, fetching 12 million yuan ($1.95 million), according to AFP, which cites a report in Chinese newspaper Qianjiang Evening News.

The breeder, who sold the puppy to a property developer, is reported to have told the paper that the mastiff had "lion's blood," and that a similar dog had sold for 6 million yuan.

"They have lion's blood and are top-of-the-range mastiff studs," said breeder Zhang Gengyun.

The hound was 80 centimetres (31 inches) tall, and weighed 90 kilograms (nearly 200 pounds), according to Zhang, who said the breed to could be compared to "nationally treasured pandas" – hence the high price.

Tibetan mastiffs – an ancient breed of dog, with long coats - have become a status symbol among China's growing wealthy classes. In 2011, an 11-month old pup named "Big Splash" sold for $1.5 million, according to NBC news, which reported that the animal was the most expensive dog sold at the time.

The buyer of the pricey puppy wants to breed mastiffs himself, according to the report.

Follow Cosgrave on Twitter: @jenny_cosgrave.

© CNBC is a USA TODAY content partner offering financial news and commentary. Its content is produced independently of USA TODAY.

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