You may want to check
http://models-mart.com. I bought The Scuba Portfolio with removable pages for $70 and it looks pretty good. It's certainly a great first portfolio for 40 images. From their website:
"Scuba", the unique model's portfolio designed exclusively for the professional model by Models Mart. The "Scuba" book is the portfolio of choice by leading agencies
and top models all over the world. It feels like leather but is much more durable.
The cover will never split or crack and easily wipes clean. It comes with 20, 9 × 12 pages good for 40 photographs. There is a horizontal pocket on the back, inside cover for composites and slide holders with permanently fused in pages. (4lbs.)
$59.95
With removable pages,
$69.95