Migliorini insists that she is not a prostitute. So far the bids are up to $155,000.
The physical education student will be filmed, before and after her first sexual encounter, by a film crew for a documentary called 'Virgins Wanted,' reports the Daily Mail.
Migliorini told the Folha newspaper:
"I saw this as a business. I have the opportunity to travel, to be part of a movie and get a bonus with it. If you only do it once in your life then you are not a prostitute, just like if you take one amazing photograph it does not automatically make you a photographer. The auction is just business, I'm a romantic girl at heart and believe in love. But this will make a big difference to my area."
Catarina will receive $20,000 and 90 percent of the final auction bid, which ends on October 15.
The winner will be tested for sexually transmitted diseases prior to sex, which will take place on an airplane to avoid prostitution laws. A condom will be required.