A property developer reportedly paid “12 million yuan ($1.9 million)” for a golden Tibetan mastiff puppy Tuesday, according to AFP via the Qianjiang Evening News.

The buyer, an aspiring dog breeder, is said to have purchased the pup at a luxury pet expo in the eastern province of Zhejiang. The dog’s breeder Zhang Gengyun reportedly said another red mastiff sold for 6 million yuan (approximately $968,000).

The dogs, known for their protective, loyal qualities, and “stranger danger” instincts, have been considered a status symbol for millionaires. According to the AFP, one named “Red Splash” sold for 10 million yuan ($1.5 million) in 2011, and a 2010 TODAY Show segment said one named “Yangtze River Number Two” sold for $600,000 and was escorted home by a fleet of Mercedes sedans.

Get The Brief. Sign up to receive the top stories you need to know right now. Please enter a valid email address. Sign Up Now Check the box if you do not wish to receive promotional offers via email from TIME. You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy . This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Thank you! For your security, we've sent a confirmation email to the address you entered. Click the link to confirm your subscription and begin receiving our newsletters. If you don't get the confirmation within 10 minutes, please check your spam folder.

Write to Olivia B. Waxman at olivia.waxman@time.com.