It really depends on a large number of factors. Are the figures painted? Assembled? Unless they're a phenomenal paintjob, you're not likely to get as much for them. Same goes for assembled models, since many people are very particular about how their models look. It also depends heavily on what models you're actually selling, since it's much more difficult to sell an army as a large lot (I know, I've tried).
What I would suggest is break the armies up into chunks, like "10 Chaos Marines" - a box of those brand new sells for ... I forget, but let's say $40 for the sake of argument. I would put those on eBay with a starting bid of maybe $5, with a reserve of about $20 - you're never going to get what you paid for them unless they're older, harder to find or out of production models.
Also, make sure you take lots of good, clear photos of the units, as that'll help sell them too - nothing's worse than looking to buy an army online and seeing all blurry or overexposed pictures.
Good luck!
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