Dungeons And Dragons Online: In Testing: Auction Houses

Sporkfire has posted some interesting stuff on the new Auction House system to be released with module 3:

The Coin Lords are pleased to announce that they have teamed with House Kundarak and House Orien to open several auction houses in Stormreach.

Auction Houses in Stormreach will allow you to both put items you no longer want up for sale and purchase items you desire. Sellers will be able to set an opening bid and an optional buyout price for their items, and will also be allowed to cancel an auction if they see fit. Buyers will be able to browse through items using the Auction House user interface and place bids on items that they wish to purchase. Please note: you will not be allowed to cancel a bid so make sure you really want the item before bidding. Bids on items will be accepted right up until the auction expires. The item will then be sent via mail to the highest bidder and the money will be sent via mail to the seller. In short, auction houses will function in a manner to which most players are accustomed to.

Auction Houses will be located in every ward of Stormreach. The Auctioneer will function much as the Banker does - by starting a conversation with the Auctioneer, you will be able to access the Auction System user interface. The Auctioneer charges two modest fees for his services: a posting fee and an auction fee. The posting fee is charged when an item is put up for auction, and the auction fee is collected when the item sells.

Head over to the official forums and read the rest of the scoop on the new auction house.