@PeachMcD Typically gear repairing works as a gold sink because it is easily the most effective mechanic to remove ingame currency from the game and avoid inflation. It is very easy to implement, e.g. city blacksmiths could offer repair services. If gold can be effectly remove from the game via other methods then repairing is not necessarily needed.
If there will not be repairing that means items will decay and eventually be destroyed, this of course works as an item sink making more demand for new stuff. However, this might lead to situation that people do not want to use their best equipment so it will not be destroyed, however, if every gear is easily replaceable then the decaying does not matter that much or at all.
If the items will be unrepairable that will have huge negative impact for trading used items. If we think on top of that the enchanting variations, there will be way too much different options for sales making the listing of all items a nightmare and system where most of the stuff will not just sell.
One option is that most of the stuff is meant to be salvaged like @Gothix mentioned and trading is build around resource markets rather than crafted items. This sounds of course really bad for players who are interested of meaningful crafting and also for players who like full loot system where you can actually get gear rather than just resources.
Therefore, I predict huge design issues what developers will need to struggle with.