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I happened upon a small haul in my wardrobe of leads from when I used to role play middle earth as a teen. Circa mid to late 1980s and just wondered if they had any money value? I looked on eBay and was quite amazed that someone is selling the same balrog for £150 albeit in new condition and wondered if these shoddily painted items have a collectable value even in their current state. (I’m sure the base for the balrog is somewhere in the wardrobe)

They might to a collector. They would fetch less in their current painted state, though, imho.

To maximize your income for them, I'd recommend stripping them of paint. Being lead, you can use whatever solvent, and it shouldn't hurt the metal, so it'd be an easy job (caveat: if they were painted with oil-based testors like paints, which were very popular in the 80s, then paint strippers/chemicals would be necessary).