This plus report it to the police as everyone else said and tell them you did not think it was over $1000 damage till he told you.
If he wants to try to be a smart *** then put him legally in his place. I would definitely go over your bike with a fine tooth comb and report any damage you can find to your insurance company so they make a claim against his insurance.
This is what I'd do also. Make it backfire on the SOB. But don't notify him of anything. Let him find out the hard way.