So you saw the semi-finished product, and you're probably thinking "How the fish-sticks did you do that?!" (If not, its okay; I can dream, can't I?) Anyway, heres how I did it; that is, if you're interested.
First, I drew an outline. Along with a few hints of where the darkest parts of the shading will take place.
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With the outline now finished, I started shading the darker areas first; just to have an idea of where the shadows will be placed.
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Next, I shaded areas and blended them with my finger. . . (Yeah, I'm low on both time and materials, but I'll make the best of it as I know that this will have to do for now.)
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Start adding darker shading the the previous layer of shade.
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Start blending and adding more tones into the mix. Try to keep crisp so that the shading isn't confused with the lighting.
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Outline the areas where you are going to shade the darkest for reference. If you feel like it, you can go on ahead and start shading the darkest parts of the image as you work. But be aware of the direction of your pencil strokes! I've made a huge mistake sacrificing quality due to my lack of time! So learn from my mistake, and take your time and shade in one solid direction.
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Continue your shading and blending, and start having a mental picture on where the lights will react on your surfaces. Don't be afraid of leaving blanks for highlights!
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Finally, blend everything together and try to make it look smooth! Once you are done with this step, your last step would be to erase parts for highlights. Finish up by adding a few accents or changing up the values. You can add color to it if you'd like. Its all up to you! I hope you picked up something through my accomplishments, and far more importantly, my mistakes! Best of wishes! Good luck! :)