As the Lions remained steadfast in their offer of a first and second round pick – which they said they were happy to use themselves at the NAB AFL Draft – the Magpies have stuck to their self-imposed deadline of 5pm Friday for a resolution.
The Pies wanted their selection No.5 plus a talented young player in exchange for Beams, who sought a trade to be near his family.
But the Lions baulked at their request for the likes of James Aish, Dayne Zorko, Jack Redden, Sam Mayes and Pearce Hanley and instead paired the first-round pick with No.25.
On Friday afternoon, Collingwood released a statement that said talks had ceased between the clubs after the Lions refused to up their offer by 5pm – the deadline the Pies installed over the weekend.
"Out of respect to Dayne, Collingwood worked as hard as it could to construct an equitable deal with the Lions who pursued the contracted 24 year-old All-Australian midfielder but, ultimately, didn't value him as Collingwood does," the statement said.
"As everyone is aware, Dayne requested a trade to Brisbane for personal reasons, something Collingwood agreed to consider as long as the outcome returned appropriate compensation.
"Unfortunately, this was not forthcoming. Collingwood's position from the outset was that a good player and an early draft pick was a fair return, although the club did consider the possibility of a combination of draft picks. Even this failed to produce a solution.
"Now that negotiations with Brisbane have ceased, Collingwood is free to pursue other opportunities involving players and picks. The club remains open to offers from other clubs for Dayne, if that is his wish."
Earlier, Lions recruiting manager Peter Schwab said the Pies simply "had to make a call" because the offer would not change.
"We can't do anything more, we can't add to it," Schwab told NAB AFL Trade Radio on Friday.
"We won't change it. We think it's as good as we can possibly do.
"Of course we'd be unhappy [if it didn't happen] because he's an outstanding player and would add significantly to our list and we've worked so hard since the start to make that happen.
"If it doesn't happen, we'll go back to the draft table with pick five and 25 and keep building the footy club.
"That's not a bad thing for us - we think history will show we'll do alright with those two picks."
Schwab said while both parties were trying to fill Beams' wish of moving back to his home state and the club his younger brother plays for, the ball was in Collingwood's court.
"I thought the deadline was next Thursday at 2pm," he said.
"At the moment, they're not shifting and there's not much we can do.
"We hope with a bit more time they may but our deal is now still on the table and remains on the table – pick five and we've added pick 25.
"That's there for Collingwood as soon as they decide that's a good enough deal.
"If not, we can't do much about it."
He said the main challenge for the Magpies to get their heads around was the faceless nature of the draft selections on offer.
The Pies, who were determined to play hardball with the Beams trade given his talent, age and experience, were keen on a ready-made player to be factored into the deal.
"We can't put a name to those draft picks for them, that's the only thing," Schwab said.
"They're the only club that can do that.
"The public can't visualise a player yet at pick five or 25 and I think that's the hard thing for a Collingwood supporter and right at the moment people at Collingwood."
The Pies said they would sit down with Beams at the end of the trade period "to prepare for the 2015 season" if he wasn't traded.
While Beams didn't attend the club's recent best and fairest, he is currently on holiday in the US with the likes of Magpies Steele Sidebottom and Clinton Young.
Meanwhile, the Lions are expected to deal with Geelong to exchange Alan Christensen for draft pick No.21, which they obtained from Greater Western Sydney for Joel Patfull.
The Magpies asked for pick 21 once it was secured but the Lions kept it to use for the star Cat.
Schwab said Christensen – who has had back problems in the past and had surgery during the finals - simply had to pass a medical for the trade to go through.
The Lions consider the virtual swap of Christensen for Patfull to be a massive win for the club.
"It's never easy to lose an experienced player, particularly one like Joel who's twice won a best and fairest and this year came third," he said.
"I think Joel will give good service to GWS but certainly we've gone for a younger player and different position of course, so we're happy with that outcome and we just need the paperwork to go through.
"I think we can safely say that everything should be OK."
Schwab also said the Lions were working to extend the contract of boom recruit Aish.
