How long does dropped loot last?

When I'm running through Sanctuary killing the forces of Hell, sometimes I find myself in so much of a hurry that I fail to pickup a particular item or bundle of dropped coins.

Assuming I survive the pack of demons chasing me, how long do I have to pick up items left behind on the ground before they disappear into the aether?

Solution 1:

It's based on the same timer as Diablo 2.

To wit:

Regular items and gold disappear after exactly 10 minutes.

Magic items will disappear after 20 minutes.

Rare, Set, Crafted, and Unique items will disappear after lying on the ground for 30 minutes.

Solution 2:

Based on first-hand testing, low-quality (grey) items seem to despawn in about 5 minutes if they are off-screen (by at least 2-3 widths). White items and gold last about 10 minutes, and I figure the Diablo II times would hold from there on up.

Do note, that if you're staring at the drops, they won't despawn, you need to be some minimum distance (1-3 screens) away.

As with everything else in the world, leaving and rejoining the game will clean up all of the litter you've caused.