An old collection label on the base.
These vessels are called "New Year's Flasks" because the new year is usually invoked in the inscriptions. According to R. Bianchi in F. D. Friedman, (ed.), Gifts of the Nile, Ancient Egyptian Faience, New York, 1998, p. 229, nos. 126-127, "the ancient Egyptian New Year started in late summer, when the Nile began its annual flood. The transition between the years was considered fraught with dangers that threatened the cosmic stability of the land and numerous rituals were developed in order to ensure a harmonious transition [...] It has been suggested that these vessels were designed to contain a liquid used in an as yet unknown ritual connected with New Year celebrations."