An apparatus (10) for assessment, evaluation and grading of gemstones has a stage (11) upon which a gemstone may be supported, the stage being enclosed in a housing (15) that is impervious to light. At least one light source (14) located in the housing is adapted to project incident light onto the gemstone. There are means for rotating and tilting the stage so as to vary the orientation of the gemstone to the incident light. A digital camera (16) is located in the housing adjacent the or each light source and is adapted to take images of the gemstone based on reflection and/or refraction of the incident light. There are also information processing means for calibrating and analyzing the images, with the information processing means being programmed with an instruction set for color calibrating the images and then analyzing the color calibrated images by segmentation and histogram measurement.