Natalie Dylan is auctioning off her virginity and the bid is going higher and higher and she could very well rake in a whooping $3.8 million dollar for her cherry! Dennis Hof, the owner of the Moonlite Bunny Ranch in Nevada, who is facilitating the auction told Scandalist that so far the auction is going very, very well.

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more photos after the jump…

Bunny Ranch in case you didn’t know is Nevada’s famed legal brothel (seen on HBO’s hit series “Cathouse.”)

“We have offers from $1 million to $3.8 million, and we have started collecting deposits,” Dennis exclusively tells Scandalist. But the highest bidder won’t necessarily win Natalie’s heart, and virginity. As Natalie told Scandalist, she won’t do the deed with just anyone, but hopes to find someone who “seems intelligent.” Although her personal top pick, Barack Obama, has not placed a bid, Natalie has some excellent potential first-time partners.

Dennis said, “There are a few people she likes. She has been e-mailing and talking on the phone with several men. She wants to be comfortable.” With the possible $3.8 million Natalie could receive, surely she will be more than comfortable.

The 22-year-old who claims to be a virgin is doing this to raise money to further her education! Oh dear.. the economy is really bad these days, isn’t it?

Oh don’t let me forget to mention it was Howard Stern who kicked off the auction. Stern was introduced to the young brunette by Hof. Natalie Dylan is just the pseudonym she’s using for “safety reasons”.

Although it’s hard to believe Natalie is a virgin looking at her pictures but for what it’s worth she’s willing to submit to a polygraph test and a gynecological exam to confirm her virginity.

What do you think? Is right for her to do this? To auction her virginity off?

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