Delayed since launch, the Real Money auction house goes live today. Players can now buy/sell in-game items using real money. Believe me, you'd think people wouldn't spend huge amounts of dollars for pieces of Diablo 3 gears, well there's actually a lot of them willing to throw money like that. It's going to be crazy from now on.
Now I've checked out the Real Money Auction house and end-game gear can go for a whopping $250! It's obviously unstable at the moment it being the first day and all, but people are reporting players buying these overpriced items. I also witness a $200 purchase on a Twitch.tv live stream, and the streamer even said the piece wasn't even worth that much. It's a bit absurd to see gear cost more than the actual game itself. And to top it all off, all transactions, Blizzard is getting a $1 cut for each one. Sneaky bastards.
Not sure how this is going to play out for the future of Diablo 3, but it's definitely looking grim. It's a great game by itself, but the whole Auction House feature seems to be ruining the game as the weeks go by. I have little respect whenever I see geared characters since you have no idea if it was hard-earned equipment or a fat wallet that got them all epic.
Blizzard has given players a decent post regarding how to use the Real Money Auction House.