I think an auction house would increase hackers ingame. To counter that you could make a gold cap, but eventually the economy would inflate and people would charge max gold for everything. However, I would love to pick up missing set peices
And I have like a billion martyr's shivs to sell.
Or maybe not. Since there is no pvp, people won't really care to charge high prices because there is no competition or scarcity outside of the leader boards.