[en] An experiment using the electronic γ-γ ''fast-timing'' technique was performed at the 10 MV Tandem Van-De-Graaff accelerator of the Institute for Nuclear Physics, Cologne in order to measure lifetimes of the yrast states in "1"7"0Yb. The lifetime of the first 2"+ state was determined using the slope method, which means by fitting an exponential decay to the ''slope'' seen in the energy-gated time-difference spectra. The value of τ=2.201(57) ns is in good agreement with the lifetimes measured using other techniques. The lifetimes of the first 4"+ and the 6"+ states are determined for the first time. They are in the ps range and were measured using the generalized centroid difference method, an extension of the well-known centroid-shift method and developed for fast-timing arrays. The derived reduced transition probabilities B(E2) values are compared with calculations done using the confined beta soft model and show good agreement within the experimental uncertainties.