Brazilian student Catarina Migliorini, 20, wants to give money to underprivileged families in her home state of Santa Catarina.
© virginswanted.com
She wants them to use the money to build new and modern housing.
Migliorini's plans will be followed by an Australian film crew who are to make a documentary called Virgins Wanted.
She told 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."
Migliorini will receive £12,500 ($20,000) and 90% of the final auction price, currently standing at £120,000 ($192,000), which ends on October 15.
The encounter will take place on an airplane flying between Australia and the US to circumvent prostitution laws.
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Watch a clip about the auction below:
