A cigar is offered both graciously as well as silently via gesturing.
Gentlepersons, I am here to bring sad news, indeed -- common courtesy is a door nail dead as is common sense. We'll linger further on the former, not the later, for the rest of this brief dalliance.
This, the seventh commandment is greatly self-explanatory and I will refuse to be as rudimentary as to offer up a why in its defense. I will, however, offer up some points which will pertain to etiquette:
The proper way to offer a cigar is silently. It is performed simply with an outstretched offering.
The offering shall be on par at the least, with the one destined for your own smoke-hole.
If denied, you must then ask permission prior to your own cigar.
You do not have a thing in the whole wide world to say re: your pal's response.
Assorted et cetera:
One never, ever asks another for a cigar. We are not, gentlepersons, bumming cigarettes. If someone were to ask you, I would recommend replying negatively and throwing a solidly constructed piece of furniture through a window, then following it out post haste. All bets are off, and every man, for himself, good and kind sir and/or madam. Once escaped -- never return.
We, prior or post offering, do not offer preemptive comment either negatively, or positively, of the cigar or cigars being offered.
Don't ever light a cigar for another person. It would just be weird. Imagine.
Price is never discussed. When pressed, clearly state it was a gift and you cannot politely tell. Suggest the schlep "Google it." Use the quite legit cop-out of "prices vary." Too, "modest" or a similar response is nice enough.
You cannot chime in along the way with 'helpful hints' as to how s/he might better or more properly enjoy the cigar you have given. You have no further ownership of the cigar, and most likely never had ownership over the person in question. If they ask, offer advice.
Please consider reading my The Eleven (11) Commandments of Cigar Etiquette in their entirety HERE. I believe it to be well worth yer time.