A traditional watermark is made by the paper-maker when a sheet of paper is made.
You can hold a piece of fine stationery up to the light and see the "watermark" as a lighter-colored manufacturer's mark.
It isn't something you print later.
We don't use fine stationery any more -- just reams of ugly copy paper.
But everything gets dumbed down in this post-Neolithic world, I guess.
