Catarina Migliorini, 20, was one of two virgins to take part in the auction for an Australian documentary.
A Japanese man bid £487,000 to be the first to take her to bed.
Catarina said she would use the money to study medicine in Argentina, according to Brazilian newspaper Folha de Sao Paulo.
“I am 20, I am responsible for my body and I am not hurting anyone,” she said.
“For me, it’s not prostitution. When someone does something once in his or her life, this is not considered a profession. If you take a picture and it comes out good, you are not a photographer because of it.”
Russian lad Alexander Stepanov also sold his virginity on the Virgins Wanted auction, receiving the winning bid of £1,876 from Brazil.
The documentary has attracted criticism on its Facebook page with several users voicing concerns over the ethics of the auction.
According to the auction’s terms, Catarina will undergo a medical examination to prove she is a virgin and the consummation will take place within the next ten days.
The “rules” also ban the use of intimacy gadgets, kissing and recording, as well as stipulating a minimum time of one hour.
Each virgin will reportedly receive $20,000 as well as 90 percent of their “sale” figure.
Catarina was previously said to be taking part to raise money for the poor..
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