Gas-phase C60 photoionization and photofragmentation experiments were performed using a sub-50 fs Ti Sapphire laser system and reflectron time-of-flight (RETOF) mass spectrometer. The dependence of the C60+ and C602+ signals on the laser intensity for the fundamental (795 nm) and second harmonic (ca. 400 nm) has been determined. For low laser intensities, before the onset of fragmentation, single ionization is a direct multiphoton process. Double ionization is a sequential process in which C602+ originates from already singly ionized fullerenes. At laser intensities beyond the onset of C602+ there is considerable metastable fragmentation indicating a strong coupling of electronic excitation energy into vibrational degrees of freedom that appears to be in competition with multiple ionization.