The mechanisms of chondrosarcoma development are just beginning to be unraveled. The distinction between benign and low-grade malignant cartilaginous tumors is difficult and is based mainly on radiological and clinicopathological features. In this review, the conventional chondrosarcomas are subdivided into central and secondary peripheral chondrosarcomas, based on their different genetic and clinicopathological background. Thus far, no diagnostic markers have been identified for central tumors. Bcl-2 is a good diagnostic marker that can be used in the distinction between osteochondroma and low-grade secondary peripheral chondrosarcoma. For the prognosis of chondrosarcomas, the best and most commonly used marker at present is histological grade. Several molecular markers, recapitulated in this paper, have been tested to see if they aid in determining diagnosis and predicting prognosis, but most are not independent of histological grade.