The account is in three of the gospels with details that do not agree. A woman comes with an alabaster jar of pure nard, breaks it, and pours it over Jesus, either on his head or on his feet. Those present object that it could have been sold and the money given to the poor, and the sum they name is three hundred denarii, which is close to a year's wages for a labourer.
That is the right price. Spikenard is the rhizome of Nardostachys jatamansi, which grows in the high Himalaya between roughly 3,000 and 5,000 metres and nowhere else, and every gram in a jar in Judaea had crossed the whole width of Asia. Pliny lists it among the most expensive substances in the Roman world and describes adulteration as routine, which is why the gospel text specifies pure.
The Song of Songs uses it twice, both times as the scent of a lover, and the same association runs through the later commentary tradition.
It has a second life that has nothing to do with any of this. Jatamansi is a standard drug in Ayurveda and in Tibetan medicine, prescribed as a sedative and for the mind, and it is that market rather than the perfumery one that drives collection today. The plant is CITES-listed and Nepal, its main source, licenses the trade.