Oh. No. My bad. I was still running off the exhilaration of the escape. We never lost the loot. My partner hid with it on the island in a pile of barrels using a Emote that puts him in a barrel (while they were sinking our ship), then I swung by and picked him up with the loot and we managed to sell it while they were chasing our asses by using me as the distraction.