Real photographs fade over time, but not evenly across the color spectrum.

  • Create a new Hue/Saturation layer and change the blending mode from Normal to Saturation
  • Check “Colorize” at the bottom of the adjustment window and set the Saturation to about 15, Lightness to about -28.
  • To lower the contrast of the image, create a new Curves layer above that Hue/Saturation layer and raise the leftmost point (the black point) to about input 0, output 20.