<p>Wave-optical effects in gravitational lensing have long been predicted, and with the discovery of populations of compact transients such as gravitational wave events and fast radio bursts, may soon be observed. We present an observer’s review of the relevant theory underlying wave-optical effects in gravitational lensing. Starting from the curved-spacetime scalar wave equation, we derive the Fresnel-Kirchoff diffraction integral, and analyze it in the eikonal and wave optics regimes. We answer the question of what makes interference effects observable in some systems but not in others, and how interference effects allow for complementary information to be extracted from lensing systems as compared to traditional measurements. We end by discussing how diffraction effects affect optical depth forecasts and lensing near caustics, and how compact, low-frequency transients like gravitational waves and fast radio bursts provide promising paths to open up the frontier of coherent gravitational lensing.</p>