For your 1st time.Fantastic! You have been given some Great advice here.I use black backer boards.Golden oak stain.Sometimes I get a burn effect.I may be the way I sand it,with the grain.Your off to a Great start.Looking forward to seeing more of your work.As for pricing?That to me is up to what people are willing to pay.you will have to feel the market.$40 Is Great for your Portraits.