The Bulldogs are playing hard-ball, insisting on getting two first-round draft picks in return for the 25-year-old, who won his first club best-and-fairest award this year.
At the presentation ceremony late last month, Dogs coach Luke Beveridge said the Lions would have to "pony up" for Dunkley at the trade table.
No deal was struck during the opening week of the trade period, with time now running out before Wednesday's deadline.
The situation has deteriorated to the point where the Bulldogs have said they would be willing to let Dunkley try his luck in the pre-season draft.
"That would be ludicrous … (if they do that) they get nothing for him," LIam Pickering told SEN radio on Saturday.
"Now that's just cutting off your nose to spite your face. You end up with nothing for him.
"They have a good relationship, Josh and the coach (Beveridge), so you hope it wouldn't end up with that situation as I think that would be a poor reflection.
"I don't know whether they are bluffing or not.
"I know what they (the Bulldogs) want and I know what Brisbane has offered, so they need to work through it, the two of them."
Dunkley, who is out of contract, is determined to get to Brisbane for lifestyle reasons after rejecting interest from Port Adelaide.
Pickering declared it a different situation to two years ago, when Dunkley wanted a switch to Essendon with two years left on his contract and had his request turned down by the Bulldogs.
The Dunkley camp does not expect a Brisbane move to go through until the latter stages of the trade period.
"This will go the distance, I think," Pickering said.
"Unfortunately, I think it could all be knocked over on Monday (but) it will all play out over the next few days.
"He wants to move to Queensland. He has said it publicly."
Dunkley's is one of just several high-profile mooted trades yet to go through.
Melbourne's Luke Jackson wants a move home to WA, Gold Coast's Izak Rankine is keen to get to Adelaide and North Melbourne's Jason Horne-Francis is determined to move to Port Adelaide.
Richmond are keen on GWS midfielder Jacob Hopper and Collingwood ruckman Brodie Grundy appears set to be Jackson's replacement at the Demons.
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