Consider the price that Jesus paid. The price is stated very clearly in various parts of the New Testament. In Acts 20:28, Paul addressed the elders of the church at Ephesus, saying, “Therefore take heed to yourselves and to all the flock, among which the Holy Spirit has made you overseers, to shepherd the church of God which He purchased with His own blood.”
Notice that Paul gave to Jesus the specific title of “God.” He said, “God…purchased [the church] with His own blood.” The purchase price was the blood of Jesus. Then, in 1 Peter 1:17, we read, “And if you call on the Father, who without partiality judges according to each one’s work, conduct yourselves throughout the time of your stay here in fear.” He was not talking about a slavish fear, but rather about a deep sense of responsibility that comes due to the price that Jesus paid to redeem us. We must never treat ourselves as cheap. When we realize we have been redeemed by the blood of Jesus, we cannot afford to make ourselves cheap.
You were not redeemed with corruptible [perishable] things, like silver or gold, from your aimless conduct received by tradition from your fathers, but with the precious blood of Christ, as of a lamb without blemish and without spot. (verses 18–19)
The price Jesus paid to redeem us was His precious blood. He is called the Lamb of God, without blemish and without spot. A blemish is something a creature is born with. A spot is something that would mar or stain it afterward. Jesus is without blemish, meaning He is without original sin, and He is without spot, meaning He is without personal sin. It is His perfect blood that has redeemed us.