I live in California, and the name was immediately attractive. Calif. used to be the common abbrev for California, but when the standardized postal abbrevs were instituted, CA took it's place in the pecking order. Cal is also commonly used, but usually Californians use it when referring to the University of California, Berkeley.
Unless restrictions have been lifted by the Canadian registry, you will have to find a business, preferably based in Calif, that has offices in Canada. Although the name is personally appealing to me, I think that the obstacles involved could limit it's usefulness and, therefore, would place the value in the $70-$100 range. However, if you got the right Californian intersted in it, and could demonstrate a good plan for using it in lieu of the cctld restrictions, you might be able to get substantially more.
Off the top of my head, a travel agency or tourism board that operates in Calif and CA would be the ticket.