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> One thing worth noting is that the tape cartridges themselves aren't necessarily the biggest expense. Standalone LTO-10 drives are currently listed at around $25,000.

The drives are a fairly fixed CapEx: once they're purchased they don't cost must/anything to run. You may replace them every few years with newer tech for higher capacities of course.

Libraries/robotics last even longer, and can stick around for a decade or more once purchased.

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What makes the drives so expensive? Is it just the fact that they're still pretty niche?
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It's niche, yes. But also an incredibly high-precision mechanical device, designed for constant operation.

But the fact that -ALL- LTO drive-mechanisms are build by IBM maybe also doesn't help the pricing...

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You don't need a $25,000 LTO-10 drive, $100,000 library, and $300 tapes. The drives are frequently backwards compatible multiple generations, so your archives are safe. You can get LTO-7, LTO-8, and LTO-9 libraries for cheap (right now there are lots of LTO-7 standalone drives for under $1000 on ebay), as they've aged out of enterprise leases.
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You got me briefly excited, but the only LTO-7 drives on eBay under $1000 are listed as parts-only. The price jump from LTO-6 to LTO-7 has remained steep for years; either industry is holding on to them, or they're being resold or released successfully.
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You're right, I didn't catch the (For Parts Only) labels when you click into the auctions. It looks like there are some working LTO-7 drive sleds that can be adapted into storage vaults for under $1000, though you're in for another $1000-$2500 for the vault.
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That's got worse recently. LTO used to be guaranteed compatible two generations back; an LTO-7 drive can read LTO-6 and LTO-5 tape. With newer standards, they've cut that to one generation. Your point stands, but folks should be aware the treadmill has been sped up in the past few years.
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Yes, drives are very expensive and that's why there is a business for renting them. Even Amazon Snowball offered that [1]. There are other rental services such as [2] but many of them are not LTO-10 yet (don't know if it really matters right now).

[1] https://docs.aws.amazon.com/snowball/latest/developer-guide/...

[2] https://mediastoragegroup.com/

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