Diablo 3 on the PS3 won’t be containing the infamous auction house like it had on the PC. However, there will be some sort of system which will let the players trade items in both the online and offline modes of the game.
This was revealed by an anonymous Blizzard official while speaking to Polygon:
Players can trade (whether offline or online) using an in-game menu. They just need to be playing in the same game. We should have more details soon.
Remember, that it had been previously revealed that the console versions of Diablo 3 will feature both online and offline four player cooperative play.
No specific date has been given regarding the release of Diablo 3 on the PS3 and PS4. Furthermore, there has been no word given about whether the game will eventually come to other platforms.