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This is a market on the hammer price of Pablo Picasso's “ Femme assise près d'une fenêtre (Marie-Thérèse)” (Lot 15B), scheduled to go up for auction at Christie’s 20th Century Evening Sale, on May 13, 2021 (https://www.christies.com/lot/lot-pablo-picasso-1881-1973-femme-assise-pres-dune-6318426/. This market will resolve to “Yes” if the hammer price at auction exceeds $55 million, and “No” otherwise. The market will resolve according to the final hammer price during the live auction at Christie’s (https://www.youtube.com/watch?v=3ClOsh4Ry34). (Note this is a market on the final hammer price at the live auction, which does not include buyer’s premium, fees, or taxes, and is not equivalent to “price realised” as listed on Christie’s website.) In the event of ambiguity in terms of the market outcome, this market will be resolved in good faith at the sole discretion of the Markets Integrity Committee (MIC).
Polymarket uses a central limit order book (CLOB) model — you can buy or sell shares of any outcome at the current market price, or place limit orders at your target price. All positions are settled in USDC when the market resolves.
Markets resolve through UMA's Optimistic Oracle. After the market closes, a proposer submits a resolution, followed by a 2-hour dispute window. If no dispute is raised, the resolution is accepted. Disputed markets go to UMA token holder vote.