Modern industrial color measuring instruments are grouped into three levels according to their performance (in terms of accuracy, reproducibility and repeatability) and technical specifications: top-of-the-line, mid-range and entry-level. Due to advances in the design, manufacturing and control of the instruments, top-of-the-line specificatins are no longer achievable only for bench-top instruments: portable and on-line spectrophotometers are also available at this level. Recent advances made special features such as spectrogoniometry and double-monochromator, spectrofluorimetry - formerly encountered only in research laboratories - available in industrial instruments. Entry-level instruments have become more rugged and affordable than ever. The authors tested over 30 color measuring spectrophotometers in laboratory and industry, and found that the performance of well-maintained and well-operated instruments is within the original specficiations provided by the manufacturers.