Looks to be a nice auction. However, I always highly question the dollar amount the police give as they habitually inflate the cost to make themselves seem more important. The guns would have to have an AVERAGE vlue of $5000 for the collection to be worth $1 million.
I know something o the value of WWI and WWII era firearms and there are very few non-machine guns that would go for more than $3500 and that example would have to be in extremely good condition or have something very special about it. Something like a pair of unissued USGI M1911's in sequential serial numbers would probably fetch $7000-$10,000 but your run of the mill Nazi K98 Mauser would only bring a couple of hundred dollars.
They showed quite a few of the confiscated firearms on the local Indy news:
A few AK variants.
An AR-15 or two.
Looked like several SMLEs and some other bolt action rifles.
And quite a few P-38s.
All in all, mostly military/curio stuff.
Hopefully these won't be destroyed.
These have to be really some guns to be that valuable. For example, a brand new M1-A runs for about $1,500, depending on the model.