Is ther an Auction House in cities where We can sell & buy loot from other players?

Is loot BoP always or BoE or both. Does a lot of Purple/Blue gear ( high end gear) sell in AH?

What are the prices like?

i wouldn't worry too much about money it's really only nessecary for your mount which you get at lvl 20 for 15 gold ,, after that the only thing you really need money for is crafting stuff.

but you get 2 proffesions and the 1st one usually helps out with the second one so that saves on the cost alot

Dropped gear is BOE, quested gear is bound to you. You can usually sell anything blue or better on the AH. No one will buy white or green most of the time, unless it's low level cloaks, shoulders or helms. prices are all over the place. just do a search and undercut everyone by a little bit.

To get to the AH you will have to reach the first flight master and then fly to the capital city of Altdorf... unless you start there now. It's across the street from the flight master exit in the bar.

Actually, you should worry about money a little. Once you get rolling in PvP, that Flight Master charge adds up fast. Also, you will more than likely buy your PvP gear from the AH instead of using the medals, so you can save the medals for the really expensive bits. Just don't buy it too early when you may win it on a roll or it is REALLY cheap.