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I'd say the best approach for equipment that you can't repaint for your new layout would be to get in touch with various LHS and see if any offer trade-in deals. I did this with a bunch of old Graham Farish British N gauge models last year (and I'm glad to see the back of them, running qualities were awful and they didn't look great either!), traded them in against some new N scale Fleischmann equipment - a DB Br.103 electric and a tilting 2-car railbus, both much more useful. You do need to have some idea of the value of the items - don't expect anything like full list price (I would probably have made more through ebay but this was completely hassle-free, and I got a good deal), but do be prepared to haggle - the first price they name may well be low, so if you make your asking price higher (but show that you'll negotiate) you'll get more for your models. Knowing the value of the models will also protect you from those who might try to under-value them. Hope this helps!
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