I think you're right, it's worth more than a standard and it's worth more than $3800. But you have to hang around waiting for the guy who wants it, who is kind of a rare bird.
I got my '85 California II from the son of the previous owner. The story I got was that he had a Convert, that burned up with the garage. He went looking for another Convert to replace it, but couldn't find one, new, in the US at that time, so he got my '85 standard California II instead, from Harper's. But his preference for a Convert was strong enough that it was still part of the story 20 years later. I guess if whoever bought this one had waited a little longer, it might have ended up out here instead.