Amazon Web Services today introduced Reserved Instances Marketplace, which allows businesses using its cloud services to resell unused, reserved server capacity.
Amazon lets businesses using its cloud services pay a low, one-time fee for capacity and receive discounts on the hourly charge for server instances used. The contracts, called Reserved Instances, can last for one or three years.
These Reserved Instances contracts can save businesses up to 71 percent compared to buying capacity on-demand, Amazon said.
However, many businesses are reluctant to commit to contracts for one or three years.
Amazon's new marketplace is designed to encourage businesses to commit to the longer reserved contracts, knowing they can sell the capacity they don’t use.
"The Reserved Instance Marketplace allows you to sell your Amazon EC2 Reserved Instances to other businesses and organisations if your needs change (e.g. you want to move instances to a new AWS Region, change to a new instance type, or sell capacity for projects that end before the term expires)," Amazon said on its website.
The new marketplace will be a web interface where buyers and sellers can come together and make deals for allocating capacity.
"You can also browse the Reserved Instance Marketplace to find an even wider selection of Reserved Instance term lengths and pricing options sold by other AWS customers," Amazon said.