Multiple round auctions & lot segmentation
Multiple round auctions present a good way of segmenting bidders into an auction process which is most suitable for them. A qualifying round will take place, where a set of criteria defines if the bidders are entered into a final round which will end with the winner. This is useful to keep the final auction round succinct, but also gives the seller information about which lots a bidder should be invited to subsequently and also sets an expectation about value, prior to the lot being auctioned. In some cases you may want to use a derivative of a Forward for the qualifier and a Japanese auction for the final round.