Elizabeth Raine: The American medical student selling her virginity has cancelled the bid. Elizabeth-raine.com

American medical student Elizabeth Raine has decided to cancel her virginity auction despite receiving a bid of $801,000.

The 28-year-old, who has created a buzz around social media with her bidding war, told her legions of online followers she wanted to focus on her studies.

Raine wrote in a blog post entitled 'The Ending': "The bidding closed yesterday as planned [high bid was $801,000] but I am here to tell you that the terms of the auction will not be fulfilled.

"With the blessings of my management and the high bidders, I have decided to put a stop to this kerfuffle [to describe it nicely] and return my focus to my medical training.

"I still do possess some spitefully strong beliefs about virginity, prostitution, and a woman's right to do as she damned pleases, but school is my first priority [as it has been for my entire life.] At this point, I no longer care about the auction, at least not nearly enough. This was a very easy decision."

Conducting the auction under the alias Elizabeth Raine, the student claims to have bachelor degrees in biology and engineering and wanted to fund her education by putting her virginity on sale though her blogging site 'Musings of a Virgin Whore.'

"Virginity fits me like a glove. It is unexpected and unconventional, yet exhilarating and empowering. Now, having made the decision to sell my virginity, I cannot imagine losing it in any other way," Raine wrote.

On 4 May, she wrote that thepurpose of the auction had changed.

"It is no longer about the money. Instead, very broadly, it is about how society continues to exercise control over female sexuality by chaining it tightly to female morality" Raine said.

"It is about the fact that we have not left patriarchy in the past [we all know male morality is not judged by the same standard], and that a woman still cannot chose to do with her body what she pleases without eliciting condemnation and hate from those [or some of those] around her."