I know that watches have gone up in value insanely (in some cases) but there are 2 things to consider here:
1. inflation. 45$ today does not equate to 45$ 50-60 years ago. Back then 45$ was worth a lot more.
2. Peru wasn't a highly developed nation (they still have plenty of problems to this day) so, 45$ was most definitely not a small sum of money.
So, again I ask, was this corruption/vanity or did they pay quite a bit of money for watches that they actually used in their various jobs ? Or maybe a combination of both... I just don't see how and why would undeveloped nations buy these watches and not cheaper ones (maybe locally produced). That's why I'm curious as to who actually received/bought them.