She was the subject of 15 bids, with a Japanese man identified as Natsu winning on Wednesday night, according to the website of the film "Virgins Wanted". He beat out competition from 14 other men, mostly from Brazil but also from India, Australia and the United States.
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Australian media said Migliorini would be "delivered" to her buyer on board a plane to Australia and that she would be interviewed before and after losing her virginity at a secret location.
Filmmaker Jason Sisely, who began his project in 2009 and caused outrage when he put posters up in Sydney and Melbourne saying "Virgins Wanted", said Migliorini was ecstatic and had not expected so much.
"The auction closed last night and Catarina is extremely excited. She was speaking to her family in Brazil online and they were extremely happy for her," he told Australian online news site Ninemsn.
"But I guess they didn't expect her to do something like this." He said the act would be consummated, but not filmed, in the next few weeks.
She will reportedly use part of the cash to build homes for poverty-stricken families.