Saggy and wrinkled, but daring to go topless (3)
I believe the answer is:
old
'saggy and wrinkled' is the definition.
I can't judge whether this defines the answer.
'daring to go topless' is the wordplay.
'daring' becomes 'bold' (I've seen this before).
'to go topless' means to remove the first letter.
'bold' with its first letter removed is 'OLD'.
'but' is the link.
Can you help me to learn more?
(Other definitions for old that I've seen before include "Long in the tooth" , "Senescent" , "Former; aged" , "Stale" , "Long-lived" .)