I love pencil sketches and I often prefer studies to finished paintings (not that that was particularly important!). I voted £40-£50, though looking back I think I'd be happier paying for that if it was mounted/framed. I liked Sans Peur's advice. Also see if there is an art club in your area because they sometimes do exhibitions of the members' work 2-3 times a year in which the public can buy images.
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