The Diablo 3 Auction House will be shut down for good on March 18, 2014, Blizzard has announced.

Diablo 3: Reaper of Souls' production director John Hight explained the decision in a blog post.

"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."

Details on how the Auction House system will be shut down are still being worked out.

Hight and game director Josh Mosqueira have also provided a bit more info on the decision in a video update.