1, 3, 6, 8-Tetra-t-butyphenanthrene-4, 5-quinone (10) has been prepared as a short-lived species in solution, and rapidly rearranges to a dienone (12) which on debutylation yields morphenol (14): the corresponding 9, 10-dihydroquinone (6) crystallises as its oxepine valence isomer (7).