Diablo III real-money auction house detailed by Blizzard

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Blizzard has unwrapped Diablo III's auction system, revealing both in-game gold and real-money auction houses.

Players will be able to switch between the two houses as they wish, which are separated into three regions independent of one another: The Americas, Europe, and Asia. The full corresponding countries for these regions (and what features and functionality they're limited to at launch) are listed in the official Diablo III auction house FAQ.

Those who utilize the real-money auction house will take on certain transaction fees when selling items.

For equipment, Blizzard will take a $1.00 transaction fee for each item. Commodities such as gems, dyes, and recipes have a 15 per cent fee on them. Players can transfer real-money earnings to their Battle.net account, or transferred out to Paypal for a 15 per cent transfer fee as well.

Diablo III arrives May 15th for PC and OS X.