One thing I want to throw in here, this is a game clearly but what if it were real? What if you were in a jungle (as an example) with 3-6 people, climbing the mountains, cutting through the trees, fighting those creatures, healing and protecting each other day after day. I guarantee in that case you would definitely put need before greed and I would bet you a good amount of money that even the 'greedy' ones would do it as it would allow them a better chance to survive in the long run. The party dynamics would be quite different than a 'game' because you would have to put need before greed and I feel that is what you should do in the game.
If they are going to sell it for coin, gives you another chance to be the buyer, no? I agree it would be very disappointing to not win the roll though, but hey, rolling the bones is the fair way to do it, without all the who has what in their inventory, who's what level, and who's what class hubub... just my 2 cents. What amounts to a legal document regulating looting seems ludicrous to me.