A Chinese woman has reportedly paid a whopping 4 million Yuan ($585,000) to buy a new pet dog.

The 18-month old dog, a Tibetan mastiff measuring 80cm high, is now believed to be the world’s most expensive dog.

The Chinese woman revealed that her ‘priceless pet’ had been named ‘Yangtze River Number Two’ and added: ‘Gold has a price, but this Tibetan mastiff doesn’t.’

The millionaire said she and a friend had spent a long time searching for an original Tibetan mastiff.

In the town of Yushu they spotted the new dog and decided on the spot to buy it, regardless of price.

“Before she left Qinghai, Mrs Wang is understood to have alerted her wealthy friends to both the sum she had just paid for the dog and the timing of her arrival.

Her friends, in an opulent show of solidarity, not only dispatched their Mercedes limousines to the airport but also arranged for local dog lovers to brandish welcome banners.”

The Tibetan mastiff is an ancient breed that originates with nomadic cultures of Central Asia and northern India.

As a flock guardian dog in Tibet, it renowned for being tenacious in its ability to confront predators the size of wolves and leopards.

Via Timesonline –Dailymail