Melissa Bailey accurately described every brand of pencil I was going to contribute.
What I will add as a colored pencil artist, is that any set can fit your budget. This idea of needing 76 Colors to make art, is unnecessary. If you have a limited budget, consider buying open stock, and getting primaries. Though my selection of primaries is different than red yellow and blue. I can get a better variety and brightness by using magenta, yellow and cyan than I can from the standard blue red and yellow. Add in white and black and you’re quite well rounded. If the budget is bigger than just those 5 pencils, add the Colors that are harder to create, the soft pastels, warm greys, and I love a paynes grey.
I have invested in pencil crayons, like they’re going out of style, and I have a small jar of my go tos that I constantly use. And I have tonnes that have never been sharpened. It just goes to show, that with practice, you can get a broad range of Colors from a very small spectrum.
My personal favourites are Polychromos, lightfast, and luminance. I’m rather against prismacolor since they changed manufacturing. They break more than not, and I’ve had pencils that crack up the entire shaft with a single turn in the sharpener. I also find that the cores aren’t centered, which leads to more issues with sharpening. I find that they’ll cost you more than buying higher quality because of so much waste in breakage. I would highly advise to skip them. If you want a big set, that’s cheaper, look for something like Derwent Colorsoft.