A more thorough explanation:

Definition: Oppignorate (pronounced uh-pig-nuh-rayt) is an old-fashioned word that means to pawn or pledge something as collateral.

Example: The desperate man had to oppignorate his watch in order to get the money he needed.

Explanation: In this example, the man had to pawn his watch in order to get the money he needed. He gave the watch to the pawnbroker as collateral for the loan, and he would have to pay back the loan plus interest in order to get his watch back.