Blizzard has said in a Blog post on the Diablo 3 part on Battle.net, that the Auction House will shut down on 18th of March 2014.
This is just a bit of there post about the Diablo 3 auction house "it ultimately undermines Diablo's core game play: kill monsters to get cool loot".
the reason for this is to fix the loot, as many PC Diablo 3 players know the loot system is not all that good and the good / rare stuff drop rate is very low, but doing this will fix that and this is what they call Loot 2.0