From everything I read and heard from other people watermarks are permanent. Depending where it is located you can possibly crop the pictures or retake them. When I talked to the people at ebay about this I was told they cant see how people will spend the time it would take to redo their pictures. I personally have close to 50000 pictures with watermarks. I stopped doing them for a while but, I like them for branding and I started adding them again. Now when I take my pictures I double take the first picture. I then add my watermark to one of them. It only takes 5 minutes to edit the pictures for 100 listings. If there is any issues in the future I will just batch edit my pictures and delete the first picture.