This laboratory activity is a mechanistic exploration of the interactions between electronically deficient organometallic compounds and solvent molecules. Simple kinetics experiments designed to explore the mechanism of C60 fullerene−benzene exchange on Ir(η2-C60)(CO)(Cl)(PPh3)2 and of the subsequent oxidative addition of benzene producing Ir(η1-C6H5)(H)(CO)(Cl)(PPh3)2 are proposed as an educational activity for the inorganic chemistry laboratory.