I don't think it would work. Propably would sort of work, aka people would be buying stuff for real money. TCG mounts for instance.
For me it could mean little extra buck, perhaps enough to cover the sub fee or buy some hearthstone card packs. I'm very good at current gold AH with 18 million gold acquired in stats and more than 1,5 million on hand. Not sure how that would transfer to RM because great deal of this gold was made on cheap (individually) items like gems, potions, living steels. I can't picture players paying real money for gems. But for raiding BOE gear? This would be quite pay to winnish tho.