Tibetan Mastiffs are huge and fierce guard dogs that have stood watch over nomad camps and monasteries on the Tibetan plateau for centuries. They are thought to be one of the world's oldest breeds, and legend has it that both Genghis Khan and Lord Buddha kept them.More details at the link, via 22 Words.
More recently, however, they have become highly-prized status symbols for China's new rich. The dogs are thought to be a pure "Chinese" breed and they are rarely found outside Tibet, giving them an exclusivity that other breeds cannot match.
Accordingly, prices have risen from around 5,000 yuan a puppy five years ago to the hundreds of thousands and even millions.
22 March 2011
Red Tibetan mastiff puppy
Telegraph explains why these dogs sell for over a million dollars: