The concept of "The Agreed Price" in the Bible often pertains to transactions, covenants, and agreements made between individuals, reflecting the cultural and economic practices of ancient times. This term can be understood through various biblical narratives where a price or value is established and agreed upon by the parties involved.

Old Testament Context

1. Abraham and Ephron: One of the earliest examples of an agreed price is found in Genesis 23, where Abraham negotiates with Ephron the Hittite for the purchase of the cave of Machpelah as a burial site for his wife, Sarah. Ephron initially offers the land as a gift, but Abraham insists on paying a fair price. The agreed price is four hundred shekels of silver, which Abraham weighs out in the presence of witnesses. This transaction underscores the importance of formal agreements and the integrity of fulfilling them. Genesis 23:16 states, "Abraham agreed to Ephron’s terms and weighed out for him the price he had named in the hearing of the Hittites: four hundred shekels of silver, according to the standard of the merchants."

2. Jacob and Laban: In Genesis 29, Jacob agrees to work for Laban for seven years in exchange for marrying his daughter Rachel. However, after the seven years, Laban deceives Jacob by giving him Leah instead. Jacob then agrees to work another seven years for Rachel. This narrative highlights the significance of agreed terms and the consequences of deceit in agreements.

3. Joseph Sold by His Brothers: In Genesis 37, Joseph's brothers sell him to the Ishmaelites for twenty shekels of silver. This transaction, though morally reprehensible, involves an agreed price for Joseph's life, illustrating the value placed on human life in economic terms during that era.

New Testament Context

1. The Betrayal of Jesus: The most significant mention of an agreed price in the New Testament is the betrayal of Jesus by Judas Iscariot. In Matthew 26:14-15 , it is recorded, "Then one of the Twelve—the one called Judas Iscariot—went to the chief priests and asked, 'What are you willing to give me if I hand Him over to you?' And they set out for him thirty pieces of silver." This agreed price for the betrayal of Jesus fulfills Old Testament prophecy and underscores the gravity of Judas's actions.

2. The Parable of the Workers in the Vineyard: In Matthew 20, Jesus tells a parable about a landowner who hires workers for his vineyard. The landowner agrees to pay the first group of workers a denarius for the day. Throughout the day, he hires more workers, agreeing to pay them what is right. At the end of the day, all workers receive the same wage, illustrating the kingdom of heaven's principles of grace and divine generosity, rather than human notions of fairness.

Cultural and Theological Implications

The concept of an agreed price in biblical times reflects the economic practices and social norms of the ancient Near East. Transactions were often conducted publicly, with witnesses to ensure fairness and accountability. Theologically, these narratives emphasize the importance of honesty, integrity, and the fulfillment of one's word. They also serve as a backdrop for understanding deeper spiritual truths, such as the cost of discipleship, the value of human life, and the ultimate price paid by Christ for the redemption of humanity.