Liverpool rejected several bids for Coutinho from Barcelona in the transfer window, including offers of over £100million.
The Brazilian playmaker handed in a transfer request but that was rejected and he was forced to stay.
Rumours of a move to Barcelona in January have resurfaced, with the La Liga club’s CEO Oscar Grau saying they can afford Coutinho in the winter window.
Lawrenson says his former side should have taken the money in the summer, because Coutinho could suffer an injury at any time.
And he thinks it is highly possible he will complete his dream move to Barcelona in January.
“I would have sold him in the summer,” Lawrenson told AskFans.
“I just think if you are getting £120 million for a footballer, you take it because he could fall over tomorrow.
“There’s a couple been injured this week, (Shkodran) Mustafi and (Marouane) Fellaini. This happens in football.
“I 100 per cent would have sold him. I think FSG (Fenway Sports Group) thought that it was too late in terms of trying to get someone else in and of course prices have gone mad.
“Maybe if they had been offered that money in June, they could have said ‘give us two weeks, keep it quiet’ and we’ll sell him to you.
“They could then have got two or three players to replace him.
“I think he’ll go possibly in January.”
Coutinho is set to play for Liverpool against Manchester United tomorrow (12.30pm).