Blizzard has recently announced their intentions of closing down Diablo III's Auction House on March 18, 2014. The Auction House was a unique feature of the game, allowing players to sell the best loot of the game for real money. Blizzard says the decision to close down the Auction House is in preparation for the next Diablo III expansion, Reaper of Souls.
Because of these new upgrades to the looting system, the Auction House will be pretty much irrelevant. The point of the Diablo series is to kill as many monsters as you can and pick up cool loot, the auction house defeats the purpose of gameplay since you can use your own money to purchase the best items in the game.
You can view the original blog post from Blizzard's official Diablo III blog here.
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