Do Times exist? The answer to this question depends on what conception of reality the question assumes. Three forms of reality can be applied to physical entities: first, reality in the sense of actuality; second, reality in the sense of objectivity; and third, reality in the sense of causal activity. I will suggest that relativity theory renders implausible the first way to spell out the reality of time instances, whereas the second way is left open. The third way will not be discussed here, as no contemporary physical theory supplies time instances with causal agency.