Rhode Island art dealer William Vareika sold a 19th century landscape by William Trost Richards for $700,000 but paid the owner only $140,000, the consignor claims in New York County Court.

Universe Antiques sued William Vareika and William Vareika Fine Arts over "The Rainbow," also titled "Coming Rain, Atlantic City, New Jersey," a 40-by-72-inch oil painted in 1890, which Universe says was to be sold by Vareika for $700,000 to a buyer in Hollywood.

Universe says it wants the balance of $560,000 plus interest, $683,000 in legal fees and $2 million in damages for breach of the consignment agreement and fraud.