As a former Arminian dispensationalist, I recognize the polemic value of this passage when disputing Calvinists and their covenant theology. It was one of several arrows I kept in my quiver, all of which proved to be made of foam by Nerf when I was forced to be exegetically and theologically consistent. The following is what that consistency eventually taught me about this passage and I want to share it with you and everyone else here. (As my
2023 introductory thread reveals, I went from Baptist, to Reformed Baptist, to Reformed.)
Okay, so the first thing to observe is that 2 Peter 2:1 does not say that Christ redeemed all humans, including unbelievers. If Peter had meant to communicate salvific redemption, we would more naturally expect to see the word ἐξαγοράζω (
exagorazo) being used here, a verb consistently used in the New Testament for Christ's efficacious, covenantal redemption of the elect (e.g., Gal. 3:13).
Instead, the word used is ἀγοράσαντα (
agorasanta)—an aorist active participle of the root ἀγοράζω (
agorazō)—a more general term meaning to buy or purchase, which communicates the idea of ownership, not redemption. And this idea is reinforced by the fact that they are said to be denying the Master (δεσπότης,
despotes), not redeeming Lord (κύριος,
kyrios), and certainly not Savior (σωτήρ,
soter). The term
despotes emphasizes absolute authority and ownership, evoking the image of a sovereign ruler or household master, not necessarily a covenant redeemer.
They were bought, along with all mankind, not redemptively but judicially and covenantally through the intratrinitarian
pactum salutis—the eternal covenant between the persons of the Godhead—whereby Christ secured cosmic dominion as mediator and judge. This dominion entails both gracious redemption for the elect and judicial authority over all mankind (Ps 2:6-9; cf. Acts 10:42; Matt. 28:18); for the regenerate elect to whom he gives eternal life, Christ is both Master and Lord (Jude 1:4).
We see in places like John 17:2 that Jesus received this authority from the Father (
Christie 1996), for Jesus prayed, "You have given him authority over all mankind, so that he may give eternal life to everyone you have given him." One should also notice here the distinction between
authority over all mankind and bestowing
eternal life on the elect.
In this light, "bought them" would refer to Christ's mediatorial authority, his right of ownership, over all things by virtue of his obedient life, atoning death, and victorious resurrection as part of his fulfillment of the intratrinitarian covenant. These false teachers are (a) subject to his rule, (b) accountable to his word, and (c) ultimately liable to his judgment. Thus, their denial of him is rebellious treason against their rightful King, not apostasy from true salvation, as Christ is the rightful ruler of all, especially over his visible church which they have infiltrated with their destructive heresies.
This reading also echoes the Old Testament precedent where God is said to have "bought" Israel (Deut. 32:6; Ex. 15:16), even though not all were saved (i.e., most perished in the wilderness of unbelief). Likewise today, not all who are under Christ's rule are beneficiaries of his redemptive grace (cf. Rom. 9:6).