The Catalan giants tried to sign the Kop star after selling Neymar for €222m. Barcelona lodged three bids during the transfer window with the third worth up to £118m.
But Josep Maria Bartomeu has told Spanish TV that the two clubs were still miles apart in their valuations.
“I will not say how much we offered, but they asked for €200m,” he told TV3.
“We weren't going to give €200m or €150m - we decided to step away from such an expensive market, our offer was less than €100m, with add-ons it could have reached €120m.
“Money has come into football from outside the game and made (the transfer market) more expensive, which explains what happened with Coutinho.
“Neymar? Officially, we learned he was leaving when he told us. At the end of July we saw things weren't going well, but his father told us it was nothing.
“We believed his father’s word but there should have been more honesty, but we need to be self-criticial.”
Barcelona have been criticised for their summer transfer policy which saw the signing of former Spurs flop Paulinho and former Everton star Gerard Deulofeu return.
“There was a strategy in place for our summer,” Bartomeu claimed. “Paulinho? He was the midfielder we needed – a player with experience, a leader with the Brazilian national team - he will add a lot to our team.
“His showing at Getafe was excellent and there will be a lot more to come I am sure.
“Deulofeu? He has returned as a better player and now he can bring us what he has learnt and how he has developed.”
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