Marseille paid £25m to take their former player back to France last month, after the midfielder effectively went on strike and demanded a move home.
Gold insists that the value is well short of Les Bleus squad member's real worth, but that they were hamstrung in the January window.
"My only regret I suppose is that he was sold for £25m and I think he was worth more," the 80-year-old businessman told Sky Sports News.
"I think in an open market he would have fetched £30-35m. I think the fans feel a bit cheated and that they didn't get full value.
"He insisted on only going to Marseille. It was one club bidding, so that depressed the price. It was £25m instead of maybe £35m.
"I don't think he handled it very well. Does anybody? I suppose the answer is we are disappointed but we have to move on. There is life after Dimitri Payet."
Payet excelled in his first season in the Premier League, scoring 12 goals and earning a nomination for the PFA Players' Player of the Year award, but netted only three goals from September to December last year.