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A teenage student is looking to auction her virginity online and claims to have already received an offer of £890,000.

Nicole — not her real name — made the decision at the age of 16 when she realised how valuable her virginity was.

The part-time model from Italy told The Sun Online: "I decided when I was 16 that my virginity was precious."

She thought the money she would get from the highest bidder would help finance her studies, as she dreams to study business at Cambridge University.

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She revealed: "I was in a relationship with a man much older than me, but I decided I would only lose my virginity to the man I love and the man I want to marry in the future."

The 18-year-old girl added: "He told me he wanted to stay with me all my life, that he loved me, and that he wanted to have a family with me, but I was only 16 and I was scared so I decided to split up with him."

After the split, she began to think about her education and how to finance it. It was then that she came to this decision. She said: "I wanted a good education so I started looking on the web for ways to finance my studies and I came across a series of auction adverts and found there were girls who had sold themselves for £3.1 million (€3.5 million) so I decided I would do the same when I turned 18."

The auction taking place on the European site Elite Models VIP. She said: "I hope to get as much as possible to fund my studies, to help my sister and my family, and buy my parents a house."

She added: "There are a lot of men interested who are writing to the agency and the highest offer we have at the moment is €1m (£890,000)."

According to a report by the Sun, the site where she is auctioning her virginity boasts of "exclusive international escorts" and also claims to "provide a luxury escort service for selective gentlemen worldwide."

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The report noted that currently they have five "virgin escorts" on the books – but Nicole attracts the highest bids. They also allow their client to verify the girls' virginity before they spend the night together by appointing a doctor of their choice.

Nicole is, however, nervous and hopes the man who wins the auction will treat her well. She said: "I am quite nervous but I am also quite confident because if a man is disposed to pay so much for you, he will certainly be a kind person. I'm sure we will have a great time together."

She also admitted she was nervous about having sex for the first time. She said she didn't mention "type or age" to the agency.

"I don't know how much the agency can show me about him before we meet but I hope before I meet him I can know more about him and speak to him on the phone," she said. "My virginity will go to the highest bidder but if I don't get on well with him, I will be able to choose another bidder."