BEIJING, June 29 (Reuters) - The red dragon is back in China, but now carry an endangered warning and a walloping $8,000 price tag.

Many Chinese are willing to pay the price of a small family car to own their own dragonfish, or arrowana, which they believe has the power to bring luck and prosperity.

Some Chinese believe they are descendants of a mythical dragon and place high value on dragon symbolism. The fish’s red and gold colorings are traditionally lucky colors in China which, combined with its name, make it the latest must-have luxury for an increasingly affluent middle class.

“As China’s economy develops the middle class is maturing and the middle class population is getting larger,” said Tom Chiu, who opened a shop selling the fish in Beijing recently.

“As a symbol of upper class life, keeping fish is becoming a trend amongst these people. We think that it’s a good time for us to enter the market,” he told Reuters.

The wild red dragon, which has been fished almost to extinction, is believed to be only found in the upper reaches of the Kapuas River in western Borneo in Indonesia. In some countries, including the United States, owners require a permit to keep one.

Many dragonfish now spend their lives as the prize exhibit in a wealthy Chinese home. Enthusiasts argue that this is necessary to ensure the survival of the species, albeit in captivity.

Like a good wine, red dragonfish become more valuable with age. They live to up to 25 years and can grow up to one meter (3.3 feet) long. Silver dragonfish are sometimes used as a substitute, but they just don’t carry the same significance.

Wen Jun is one of China’s new breed of fish enthusiasts, and like many arrowana owners he prefers to keep the size of his fishy fortune a secret.

He refurbished an entirely separate building to hold his aquarium and sincerely believes the dragonfish brought him luck.

“After I started keeping dragonfish, I felt better both in my work and life. Maybe it brings me self confidence. After all this fish is a kind of feng shui fish,” he said, referring to the ancient Chinese belief in geomancy.

“This fish has brought me luck that I had never expected.”