Would you want a type of Auction House in Destiny? Personally for me, no. After seeing what it did to Diablo, I really don't want any type of Auction House. An open market place where people can interact and sell their items and loot is much better in my opinion.
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I'd much rather see an Auction House. Easier for the folks that don't play on regular hours to still have access to better stuff. If it were me, I'd go MMO style and put the vendors and auction house an storage all in the relative same location. Make it look like a busy ass bazaar, with Npcs's running around doing their thing, too.