What's a good response to a child destroying stuff

[LowBumsMum]

School has just finished for the holidays and my 71/2 year old son has just come home from school and started knocking holes in the wicker sofa outside with a toy hammer. I told him clearly it was completely wrong but wonder if there is some other way I should handle it. The sofa was old but serviceable before and now has a great big hole in the side of the arm. I'm not happy at all.
Any ideas, I'm tempted to make him pay towards a new one from some of his saving money but somehow feel that that would just be mean and not get the message home.
Help!

I'd confiscate the hammer for a start and then ask ds how he thinks he can put things right. If he's anything like mine the punishment he chooses will probably be far more harsh than the one you would

I'd tell him that he won't be sitting on the furniture until he respects it! And then give him some lessons in woodwork as he's obviously got a penchant for it! He might really like to have a hammer and nails to play with under supervision.