I like the approach of direct consequneces to actions. The kids wrecked something, they replace it. In my opinion punishment should be specific and relatable to the action.
These kids will learn the value of items and learn to repsect other peoples property. The pictures should probably not have been put up but the concept of paying for the things you damage is a good lesson to learn
And Beyblades aren't even a new toy. Battling tops had been around way before them. They just made some japenease cartoon show and jacked up the price.
http://www.youtube.com/watch?v=-Uw5crBtIqs