Triphenylbismuth diacylates, Ph(3)Bi(O(2)CR)(2) (R = Me, Et, Ph, CF3, CH=CH2), are novel effective reagents for fine organic synthesis. They oxidize primary and secondary alcohols and di-tert-glycols under mild conditions to form the corresponding carbonyl compounds in high yields; O- and N-phenylate alcohols, enols, and amines; and O- and o-C-phenylate phenols.