The same arrangement is to be seen in books printed on vellum.
For example, the mere vellum required to print a small thick folio, such as Caxton's Golden Legend, would now cost about £40.
I owe many of the facts in the following account of early paper to the excellent article on that subject in the Encyclopædia Britannica, ninth edition, Vol. XVIII. by Mr E. Maunde Thompson. See also E. Egger, Le papier dans l'antiquité et dans les temps modernes, Paris, 1866.
A good illustrated account of early water-marks is given by Sotheby, Principia Typographia, London, 1858.
Some fifteenth century paper has a special maker's mark, but more usually a general town or district mark was used, such as the cross-keys, a Cardinal's hat, an Imperial crown or double-eagle.