but with precious blood, as of a lamb unblemished and spotless, the blood of Christ.1 Peter 1:19(NASB)
Because of our sin we deserve death, and the wages of sin is death - spiritual death. The result of sin is eternal separation from our mighty Creator God. But through faith in Christ, we have been redeemed. We have been bought with a price. We have been purchased back from the slave-market of sin and death, by our gracious Saviour God.
He paid a tremendous price to redeem us from our lost condition and it was a price that only He could pay, for we could not have been redeemed with perishable things like silver or gold, but with the precious blood of our Lord Jesus Christ, Who died so that we might live. He gave His life a ransom for many and in so doing became our kinsman-redeemer. He is the sacrifice for our sin, He is the propitiation for our sins.
The Lord Jesus is that unblemished and spotless lamb of God, Who takes away the sin of the world and gives us spiritual life in return for spiritual death. He willingly identified Himself with our sin and voluntarily offered up His own sinless life in our place - as of an innocent, little lamb.
Christ identified Himself with our sin so that we might be identified with His righteousness and in so doing purchased us back from the slave-market of sin and death, with His own precious blood - as of a lamb unblemished and spotless.
Heavenly Father, we praise and thank You for the precious blood of Jesus Christ our kinsman-redeemer and sacrifice for sin. Thank You that He set aside His glory and came in the likeness of sinful man and purchased us back from the slave-market of sin and death - so that we might live with Him eternally. Praise Your holy name, AMEN.