First players are ported into an area with lots of stealable loots, and also a lot of unkillable (but stealable)NPCs there to witness thieving, your bounty will rise like normal, but the reduce bounty perk doesn't work here, neither is the smuggler assistant.
After sometime, pvp will open to allow players to kill each other. For each person you kill, you gain his bounty in form of AP, and the died will be removed from the battleground and lose all the stolen items on him, but he will not get his gold taken or have bounty.
After a period of time the game is over and a fence will appear to help the survivors sell all the stolen goods, they are like normal fence, pay you gold for the items you stole. After porting out you will not get bounty in overland as well