Books are there to be read, right? Wrong. There is a certain type of volume that exists as much for decorative purposes as literary ones.

Bookbinders work on the premise that it is not only necessary but desirable to judge a book by its cover, with the result that contemporary bookbinding has become highly collectible. Such books double in value roughly every seven years, one dealer says, while works by some of the great bookbinders of the day, such as Ivor Robinson, Trevor Jones, Philip Smith and Lester Capon, can fetch large sums at auction.

Flow Gallery, in London, is now holding its second exhibition of bookbinding, Covered Again, until May 27. The works have been chosen by Designer Bookbinders, the society devoted to the craft, and prices start at £50.

“People interested in contemporary bookbinding tend to be lovers of both books and modern art, for this is a medium where the two come together,” Capon says. “Most bookbinders work on books printed by a private press: the print run tends to be between 50 and 200, and one will be bound and signed by the author and the illustrator. Commissioning starts at about £1,000 to £1,500, although it can be much higher.”

Contemporary bookbinders do not confine themselves to new and limited works. For example, there is a first edition of Brighton Rock in the exhibition that has a contemporary binding and is for sale at £1,350. Derek Hood, the bookbinder, came across a first edition that was missing its dust jacket and had covers in poor condition. The pages, however, were beautiful and intact, and so he bound them afresh.

Bookbinding by hand was commonplace until the early 19th century, when the Industrial Revolution made mass production possible. Samuel Pepys was an early collector. The collection of a more recent aficionado — J. R.

Abbey — was sold by Sotheby’s in 1968: it is estimated that were the sale to take place now, the books would fetch 100 times as much.

But a great deal depends on what is in fashion. Probably the greatest modern bookbinder is Philip Smith. His prices start at about £15,000. Another well-known master was Edgar Mansfield. Designer Bookbinders cites a case where a Mansfield book went for £70 in 1972 and is now worth £10,000.

Books at the Flow Gallery include one about dragons in the form of a wooden dragon at £1,500. There is also a very attractive Alice’s Adventures in Wonderland and Through the Looking Glass, at £1,410, with illustrations by Mervyn Peake and bound by Christopher Shaw.

And then there is a volume of poetry by John Betjeman, in the shape of a 1930s suburban house, reflecting the poet’s interests. The price is £1,100. You can’t help thinking that the great man himself would have approved.

• Flow Gallery: 020-72430782, www.flowgallery.co.uk

Times Recommends

• How to profit from your holiday
• Is there anywhere left to make money?
• 10 sites that could change your life