When we initially designed and implemented the auction houses, the driving goal was to provide a convenient and secure system for trades. But as we've mentioned on different occasions, it became increasingly clear that despite the benefits of the AH system and the fact that many players around the world use it, it ultimately undermines Diablo's core game play: kill monsters to get cool loot. With that in mind, we want to let everyone know that we've decided to remove the gold and real-money auction house system from Diablo III.

We feel that this move along with the Loot 2.0 system being developed concurrently with Reaper of Souls™ will result in a much more rewarding game experience for our players. [...] Please note that the shutdown will occur on March 18, 2014.​

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[L]eaked information about the Reaper of Souls release points to new game modes, loot runs, and a number of other welcome-looking additions to the game. The leak also points to hundreds of new side quests spanning all the game’s Acts, as well as a Clan/Guild system. If true, the Reaper of Souls release, coupled with both Loot 2.0 and the demise of the Auction House, could bring Diablo III to new heights, making it the game it really ought to have been at release.

Now Blizzard just needs to implement an offline mode, and we’ll be in business.​