The concept of bind-on-equip doesn't exist in Diablo III. Bashiok said something about it here (scroll down to his post):
Yeah, we realized that binding is kind of a crappy way to pull items
out of the economy. If you say that the average player produces 100
items an hour and maybe gets 1 upgrade in that time, then binding at
best can account for removing 1% of items from the economy. And that's
being very generous at high levels.
Binding isn't really substantial in making a viable economy, but it is
really good at establishing item prestige. Which is how it's used in
We expect salvaging to be compelling enough to remove a good
percentage of the most valuable items from the economy. High end
components obtained from salvaging high end items are needed for high
end crafting and enhancement.
We're not promising anything on patch content, but we also feel that
keeping up on introducing new items consistently will keep it from
being possible for a glut of the best items from building as 'the
best' can be a constantly moving target.
Courtesy of Krazer (in the comments):
Jay Wilson: I’m happy to announce that we recently decided there will be no binding of items in Diablo III. They will be freely traded for the life of the item. The only way we are going to do any kind of binding would be for things that are not progression-sensitive. Like we might say…a quest item. We don’t want you to be able to give to other player to short circuit a quest, but if you find a sword, piece of armor, or gem….anything that you find in the ground, once you pick it up, you can freely trade it…forever.