That’s true, but, in theory, the market dynamics *should* be the same. In any normal bidding process, as long as you have two engaged participants, you should be able to create a competitive outcome that results in a fair market value with no discount.
If McGroarty goes for less than a 1st+, I think we can at least give some credence to the claim that Gauthier’s value would have declined had they waited.
Regardless, I think it’s clear now (if it wasn’t already clear at the time of the trade) that value was not maximized on Gauthier by trading him in January. I really hate the counterfactual here, because I think Gauthier + 12th would have gotten Anaheim to seriously consider trading the 3rd overall. That may not have been a great value trade either, but at least you’re paying a premium to get the elite talent that they clearly wanted (Demidov). Like you said, we’ll never know, but it’s hard to see Drysdale + 2nd still being the best offer available had they waited.