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From Diablo Wiki
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D3 not an MMORPG
An ''Auction House'' is an in-game mechanism to allow for easier trading of items for items or money. Diablo II did not include this sort of feature, but many other MMORPGs do, notably [[World of Warcraft]]. Diablo III will feature an Auction House (AH), which comes in two main varieties: the [[gold]]-based Auction House will allow players to sell items, crafting materials, and even their characters for gold. The [[RMT]] (Real Money Transaction) Auction House will allow the sales of the items listed prior, but the caveat is that they are for real-world currency. Namely, Euros, Dollars, Rubles, etc. Real-world money transactions within this wiki entry will be referred to as RMT, or “currency” transactions.
The benefit of an auction house is that players can put items up for sale in an automated system. They need not be present to sell their item or spam ads about their item in the chat channels. It's also easier to find items you want to trade for, since other players don't have to be online for you to see "[[WUG]]".
