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From Diablo Wiki
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"items or money", WUG -> "WUG"
An Auction House is an in-game mechanism to allow for easier trading of items for itemsor money. Diablo II did not include this sort of feature, but many other MMORPGs do, notably World of Warcraft.
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]]".
There is no confirmation of an auction house in Diablo III, or any sort of trading features at all, as of yet. Players certainly hope for it, and the [[D3 Team]] wants to include it, but they won't comment officially until they're sure one way or the other.
