This article describes two recent efforts to rank the quality of higher education institutions in Australia and New Zealand. After a brief discussion of goals, methods, and results, the author evaluates each ranking using the following questions: Does this methodological approach achieve its objective? Can other countries use the methodology by extension? What can we learn about a country's higher education system using this approach? The aim is to provide readers with a framework for thinking critically about rankings, and about the role they might play in measuring and influencing higher education quality on a global scale.