I have used Walmart flat black .98 cent primer for years on rank and file, terrain, vehicle models, and even for characters. (not for entering a painting competition).
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Rust, Gray, and Black I use the most (never white), depending on primary color of the model/unit.
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A friend of mine just painted a base color (primed black lightly first) on his wife's Eldar with a Purple-Blue-Green color changing spray paint he got from a AutoZone and it looked AMAZING.
I think this is the stuff, but not sure, and my Eldar are pink, so will have to try it on something esle;
http://www.autozone.com/paint-and-body/paint-spray-can-and-touch-up/rust-oleum-galaxy-blue-color-shift-paint/69497_0_0/
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I have great success with Krylon for base colors.
People also like Liquitex for large ;
http://www.dickblick.com/products/liquitex-professional-spray-paint/?clickTracking=true&wmcp=pla&wmcid=items&wmckw=01432-7470&gclid=CKGqnOWTv8YCFcdhfgodn8MPEw
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If you are on a budget and not following a painting tutorial with lipstick colors named paints, then regular apple barrel, plaid, etc. work well with a little practice, again, not necessarily for competitions, but remember many pro painters use oils.
http://www.walmart.com/ip/Apple-Barrel-Matte-Acrylic-Paint-2-oz/21778075
or Michaels arts and crafts, etc.
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