Lobb, who has played 119 games at AFL level, moved from Greater Western Sydney at the end of the 2018 season and is enjoying one of his best years of his career so far.
Despite this there has been talk in recent times over the 28-year-old's future with reports claiming that the remainder of his career could lie away from Fremantle.
Speaking on SEN Sportsday, Lloyd has warned the Suns not to make the mistake of yesteryear in throwing big contracts at trade targets in order to lure them up north.
“It’s said that (Rory Lobb is) on $700,000 a year at the Dockers," Lloyd exclaimed on SEN.
“I would not pay him a cent over that (figure); he’s worth $600,000 (in my view).
“I just don’t want to see the Suns fall into another guy and overpay them just because it’s hard to attract players up there.
“(They have to) develop their own.”
The Suns have had some fantastic players rise through their ranks in recent times, with the likes of Matt Rowell, Jack Lukosius, Noah Anderson and Ben King all being drafted and making waves up in the sunshine state.
However the influx of more experienced players via trade periods have seen these incomings take up a large chunk of Gold Coast's salary cap.
Lobb has been in great form so far this year, chipping in with 20 goals to rank second in the club's goalkicking tally.
A syndesmosis injury against the Cats last round may not keep the Dockers tall out for this weekend however, with the Dockers desperately trying to patch some consistent performances together to see them break their finals drought.