Old photo more likely to exude its fluid, you say? (5)
I believe the answer is:
sepia
'old photo' is the definition.
(I've seen this in another clue)
I can't explain the remainder of the clue.
Can you help me to learn more?
(Other definitions for sepia that I've seen before include "Shade of brown, as in old photographs" , "Brown pigment produced from cuttlefish ink" , "Sort of ink" , "Brownish tint or pigment" , "Brownish tone associated with old photographs" .)