If you have the budget I suggest you get both, the Polychromos are oil based and fairly transparent, so it takes layers to build up color/depth, I have found I like to layer down a layer of wax based color first then go with the Polychromos. Right now I am mainly using various Derwents but I am buying Luminance to use, but Luminance are so expensive here in the States that I am not sure I would want to use them exclusively.

As for which you would prefer, if you can get some open stock to try, or perhaps a couple of the smaller sets so you can try them out to see which you prefer to use that might be your best approach. Everyone has different likes and it is really hard to tell someone which they would prefer.

Price wise the Caran d’Ache are pretty much double the cost of Polychromos. Here in Germany you pay 1.85€ per Polychromos and 3.70€ per Caran d’Ache, so it does get very expensive. Caran d’Ache also are wax based. I have a good few of them, but to be honest, the only pencil I actually use is the purple for the main reason that none of the Polychromos purples are of the highest lightfast rating. I very much prefer the oil based Polychromos, maybe because I started out with them and got used to them. Caran d’Ache are much creamier and I have to sharpen them more often than Polychromos. And I also noticed that they tend to develop a very thin waxy shimmery layer when used a lot in one area which I am not used from the Polychromos. I don’t think it’s waxbloom, though.
The Caran d’Ache white is much more opaque than the Polychromos white. The Polychromos white is pretty much useless unless, I think, you burnish. However, the Caran d’Ache white can only do so much, so don’t expect miracles.
I mainly draw people, so I don’t know about the best pencils for wild life.

I love them both. I would recommend buying open stock and getting a mixture of the two brands to build up the range of colours you use. There are some rather lurid ones which I can’t imagine you’d need unless you draw a lot of parrots. Poly is quite weak on the natural and pastel colours where luminance is stronger. I’d also get the caran d’ache pablos open stock as well which again have colours the other two don’t. The poly greys are lovely. There is a beautiful grey/purple in the luminance. All three work well together and hold good points. To add to the confusion I had to go to the Lyra Rembrandt to get a pale blue I liked. ……I think my lesson from this is that I need to get better at mixing my colours…….

I’m sorry to divert this thread a little but I hope it’s relevant.

I remember looking at a fantasy supplies thread, which I can’t seem to find at the moment.

I totally understand that “best” is a relative term and even then it can depend on multiple other factors but do you think there would ever be a need for an art store to have an open stock display made up of the best individual CPs (as determined by people like you)? So, the white of brand A, the pastels of brand B, the brown of Brand C, etc etc. all placed together.

Would you need to have a seperate wax and oil based displays? Are people just better off buying sets? Or do people just tend to find their own way?

That is something completely arbitrary and up to each one’s taste, so its impossible. Some people like wax based pencils, I hate them, some people think koh-i-noor are low quality pencils, I consider them the best ones I have ever used.

Each person will have its own way. I have a problem of wanting more and MORE and wanting to have all the colors so I buy sets, but more sane people can be more sane.

Which Koh-i-noor are you using, and what advantages are so compelling?
I have the woodless, and some are good, some not. The white is useful only for blending.

I finally got some of the Luminance pencils and they are really nice – I got very light colors like Sepia 10% and umber 10% and white. They are definitely softer than the polychromos but I like them both.

I primarily use Polychromos and do a lot of wildlife work. They sharpen to a wonderful point, I rarely have breakage, they’re accessible and come in a larger range of the colours. That said, the Luminance are a beautiful pencil and offer some really interesting and unique colours not found anywhere else, especially in the spectrum of skin tones, so they’re brilliant for portraits.