Justin Sisely laboured for more than a year to recruit male and female virgins who were willing to auction themselves on camera.
Poster with an image of Virgin Mary reading 'virgin wanted' was used to called interest candidates for the auditions for the show.
Fearing legal actions in Australia, the film will instead be shot in United States and the auction will be held in a brothel in Nevada, 'sin-city' Las Vegas.
Each virgin will be payed $20,000 by Sisely and they will given 90pc of the sale price, while the remaining 10pc will be Nevada brothel where the auction will take place.
The bids will be placed online before the final auction.
Sisely had to undergo lots of hardships to bring his project into reality. Many of the virgins who had signed up for the show left the project, which forced to restart his search for willing participants.
"The hardest part is telling the parents, they hate me," News.com.au quoted Sisely as saying.
For the participants it was the lure of money which drew their interest in the project.
"Technically I"m selling my virginity for money, technically that would be classified as prostitution, but it"s not going to be a regular thing, so in my head I can justify that I"m not going to be a prostitute," she said. Another fellow 'John' said, "Money is a good incentive but I"m really more excited about the journey I"m about to go on."
The show has also drawn criticism even before it has hit the airwave. Family First Senator Steve Fielding slammed the show and termed it "absurd, ridiculous and disgusting".