As a singer/guitarist I was frustrated at dropping picks a fair amount - I had seen pickholders at a few gigs before and thought 'hey, that's a good idea!'.
Once I finally got round to it, I searched Thomann and found some cheaper versions of pickholders but decided I didn't want to compromise on quality, so threw another £5 or so into the budget and got one of these instead.
Holds picks really well at any angle, the quality is great and it's incredibly durable. If you want a pickholder, buy a Minotaur!