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.

An unidentified man posing for a photo with two Tibetan mastiffs after they were sold at a 'luxury pet' fair in Hangzhou, in eastern China's Zhejiang province. STR I AFP I Getty Images

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. (Read more: $130 wearable gadget tracks your dog's fitness)