Amazon Web Services is extending its marketplace capabilities with the launch of the Reserved Instance Marketplace in beta.
Essentially, it is an online hub for the purpose of offering AWS customers with the chance to sell their Amazon Elastic Compute Cloud (EC2) capacity to other businesses and organizations.
AWS customers can also browse the Reserved Instance Marketplace to find a wider selection of EC2 capacity term lengths and pricing options being sold by other AWS users.
Much like how it handles its online marketplace for consumers, Amazon will handle the transactions and transferring ownership of the reserved instances. Thereafter, AWS will deposit the funds directly into the seller's account via wire transfer.
Touting this as a double win for customers, this means that AWS customers could lower their cloud costs by making one-time payments to reserve compute capacity for a specified time frame while receiving a discount on the hourly charge.
Furthermore, customers can sell off the remainder of their capacity for a variety of reasons, whether it be moving reserved capacity to another AWS region worldwide or just selling off that space before the term expires if it's no longer needed.
Naturally, there are some limitations and rules. For example, AWS users can only sell up to $50,000 in Reserved Instances per year. Additionally, each Reserved Instance sold be charged a service fee of 12 percent on the total upfront price.
Note that all EC2 capacity instances purchased on this marketplace equals the same amount of capacity purchased directly from AWS.
But also keep in mind that the term length for a Reserved Instance will be rounded down to the nearest month. For example, a Reserved Instance with nine months and 15 days remaining will be listed as nine months.
In April, the AWS Marketplace debuted as a one-stop shop for business customers looking to expand in the cloud quickly. AWS customers can add pre-configured software and technical services to their shopping carts with the option of "one-click" deployment to the Amazon Web Services cloud space.
For a closer look at the AWS Reserved Instance Marketplace, check out the promo video below: