The synthesis of phosphaalkenes, ArP=C(R)Ph (1, a: Ar = Ph, R = Ph; b: Ar = o‐Tol, R = Ph; c: Ar = Mes, R = H), bearing sterically less hindered substituents is reported. Phosphaalkenes 1a–b were prepared by treating Ph2C=O with ArP(Li)SiMe3, whereas 1c was accessed from the AlCl3‐mediated reaction of ArP(SiMe3)2 and PhC(O)H. Both 1a and 1b dimerize to afford their respective 1,2‐diphosphetanes (2a and 2b). Compound 2a was characterized by X‐ray crystallography. Dissolution of pure 2a in THF resulted in a temperature dependent equilibrium with monomer 1a (ΔHo = –94.6 ± 14.6 kJ mol–1; ΔSo = –284 ± 48 J mol–1 K–1). Although monomer E/Z‐1c was identified in solution by its characteristic downfield 31P NMR chemical shift (δ = 247.1, 231.5), it was accompanied by the formation of what we believe are oligomers (δ = –25 to 10 ppm, br.). Attempts to trap phosphaalkenes 1a and 1b by treatment with W(CO)5(MeCN) afforded mixtures of complexes W(CO)5(1a–b) (4a–b) and W(CO)4(1a–b)2 (5a–b), the disubstituted species being subjected to X‐ray crystallographic characterization (5a).