Amazon Web Services today launched a new service called Reserved Instance Marketplace, which allows AWS customers to sell their Amazon Elastic Cloud Computing (EC2) Reserved Instances to other entities rather than leave them to expire.
Reserved Instances for Amazon EC2 lets customers lower their operating costs by making a one-time payment to reserve compute capacity for a set period, and receive a discount on the hourly charge for that instance (up to 71 per cent as opposed to on-demand instances).
The most appropriate analogy would be a mobile phone’s contract versus PAYG. The Reserved Instance Marketplace allows customers to resell the remainder of any Reserved Instances purchased if their needs change.
Reserved Instances are normally available for either a one-year or three-year period but the marketplace will allow customers to opt for non-standard periods.
“AWS has long given customers multiple ways to use Amazon EC2 and save money,” said Peter De Santis, Vice President, Amazon EC2 and it will be interesting to see whether that new service will encourage users to migrate from On Demand to Reserved instances.