I like to collect variations, particularly press and promo items.

Avid collectors are familiar with what I call the "Balrog Folder", because of the peekaboo cover, which features a sinister shadowy Balrog peering out of a gatefold cutaway.  This extremely rare, highly sought after promotional  folder was distributed  to potential licensees before filming had begun.

Because actors had not yet been selected, and filming not begun, the Balrog Folder contains only conceptual art. It's very interesting to see how closely the early conceptual art matches what was eventually laid down on film.

I have been told by a Weta staffer that only a few hundred copies were printed. I don't know if this information is correct, because this same staffer was not aware it had been printed in any other languages.

A Balrog Folder is the creme de la creme of any collection. I have seen only about half a dozen English language version copies available since I started collecting in early 2002.

I am not sure how many German language copies ultimately changed hands, perhaps in the range of about four or so, but possibly more. It was hard to tell, since the German seller who auctioned them was blatantly and openly shilling, clearly selling the same copy to himself on multiple occasions. 

The German version has the Kinowelt logo on the back of the folder.

Since these were sent to potential business partners, many of whom did not take advantage of the licensing opportunities, many were presumably trashed, making them even more difficult to find.

I recently stumbled on a Japanese variant of the Balrog folder.  It is identical in size, and format, and includes the same art as the original folders.  It has the same heavy stock cover and pages, and the "onion skin" insert page.  But, this one appears to have been printed at a later date, since the centerfold includes photos of the major cast. Oddly, all the cast is in costume, with the exception of Cate Blanchett.

In addition, it includes additional onion skin insert pages, with Japanese on them. The back has what is probably licensing/copyright information in Japanese, as well as a LordoftheRings.net URL in English.

Interestingly, though this version of the Balrog Folder was clearly issued well into production, it still has the original movie logo, and is one of the very few licensed items to do so.

Photos of the entire folder are posted below.