The upcoming Reaper of Souls expansion will add a new artisan, known as The Mystic, who is capable of transmogrification and enchanting. Enchanting is similar to WoW’s reforging in that it will allow you to reroll a single item property. The Mystic progresses from level 1 to 10 like the Blacksmith and Jeweler.
Enchanting
Most item properties can be rerolled, but some can’t (no details yet).
You can reroll that one property as many times as you want, but once you choose one you can only reroll that property.
Before you replace a property, you can see the possible replacements. One of these will be randomly chosen once you complete the enchant.
If you don’t like your rerolled property, you will have the option of reverting it to the item’s original property.
Enchanting costs crafting materials and gold.
Enchanting an item makes it bound to your account and it can no longer be traded to other players.
Transmogrification
All items will be eligible for transmogrification, including legendaries and set items.
Once an item appearance is discovered, it is available to all characters on your account.
Common, magic, and rare item appearances are unlocked as your level The Mystic.
Legendary and set item appearances are unlocked when you identify them.
You do not need to keep items in your inventory for their appearance Runescape Powerleveling to be used, and once they are unlocked you are safe to get rid of the item.
Transmogrification costs gold.
For weapons, you can only transmogrify items of the same animation set, e.g. two-handed swords to two-handed swords.
Transmogrifying an item binds it to your account.
Transmogrified items can be dyed.
I really hope they implement a similar system for WoW’s transmogrification. Unlocking an appearance, as I suggested in a previous post, would solve a lot of inventory issues some of us collectors are having. Head on over to the Diablo 3 site to see the full preview of The Mystic.
Source: http://wow.joystiq.com/2013/10/24/diablo-3-adding-transmogrification-and-enchanting/