Bubble bursts for Tibetan mastiffs ...

The price for these pure-bred dogs once hit nearly $800,000, but now the bottom has fallen out of the market

Peng Qiwei, who has been raising Tibetan mastiffs for more than 20 years, decided to close his kennel park to the public in Beijing this year.

He made the decision after the crazy enthusiasm for this particular kind of dog in China started to fade along with many speculators' dreams of making a fortune.