An excerpt from "Got Questions.org" entitled, "What Does it Mean That " you were bought with a price " (1 Corinthians 6:20; 7:23)?" states: "The price we were bought with is disclosed in 1 Peter 1:18–19: “For you know that God paid a ransom to save you from the empty life you inherited from your ancestors. And it was not paid with mere gold or silver, which lose their value. It was the precious blood of Christ, the sinless, spotless Lamb of God” (NLT).
When Paul said, “You were bought with a price,” he meant that believers were purchased and paid for with the sinless, spotless perfection of Jesus Christ’s blood. Jesus Himself said that He came to give His life as a ransom for us (Matthew 20:28). Since we were obtained at such a tremendous expense, we are to use our bodies to honor God with good deeds: “For we are God’s masterpiece. He has created us anew in Christ Jesus, so we can do the good things he planned for us long ago” (Ephesians 2:10, NLT)."
This article may be viewed at: What Does it Mean That You Were Bought With A Price?/gotquestions.org
Reference: 1 Corinthians 7:23