Nigel Cryer says:

Of course, something is only worth what someone else is prepared to pay for it. A dealer who is prepared to take the collection as a job lot is more convenient than trying to sell individual items yourself but they need to factor in a profit margin so will always offer a lower price than they believe that it’ll be worth to them.

The suggestion above to use eBay is a good one – you can search for the item then select ‘sold items’ to see the prices recently achieved for similar items.

Ultimately, the value is based on many variables – condition, whether boxed, running performance, desirability, rarity and so on so your only real remedy is to try dealers or eBay and see how you get on.

Jay says:

As an Ebay seller and model train collector, I use Ebay as my price guide. As a buyer, it’s always a risk buying used trains, cause they may need restoration, and that takes time and money. When I sell trains of Ebay, I make sure of the actual condition so that buyers know what they are getting. The newest Dcc & Sound equipment can be the hardest to service, if it’s needed. Many model locomotives have cracked “cheap” plastic gears, and that’s a real problem when buying or selling. Many people won’t want the hassle of listing and selling on Ebay, (it’s a lot of work). It’s up to you, you’ll get more for your stuff on Ebay, but be prepared to pay taxes etc. Or just sell your stuff at the local train shows, your call.