(UPDATE) There seems to be quite a lot of interest in these particular red ‘Guild Publishing’ editions - so here’s what I know.
These are Book Club editions. They’re nice enough in themselves, but I think a lot of collectors might look down on these a bit because they came from a book club.
You will occasionally see these described elsewhere as ‘Rare’ and/or ‘Leather’. But sadly, they are neither.
I would imagine as Book Club editions they would have been produced in pretty large quantities. I don’t think they are particularly highly prized or sought after since you can (usually) easily pick them up on eBay for a few pounds each depending on age and condition. I certainly wouldn’t want to spend much more than that.
And they’re definitely NOT leather - just a kind of leather-effect hardcover with a bit of gold-coloured embossing.
Like I say, they’re nice enough books. And if you’re looking for one yourself fortunately there seem to be plenty more copies out there…! Good luck!
Title: The Silmarillion
Author: JRR Tolkien
Published by: Guild Publishing
Year of Publication : 1981
Edition: 1st print.
Hardback, with red leather effect binding