A traditional Routemaster London bus. London transport announced that the red buses are to be phased out of the next five years. 23/01/2004: a double-decker Routemaster bus, the first of which ran in 1954 and are now being replaced by driver-only buses, including the ultra-long 'bendy' buses. Bus companies are now selling off their Routemasters, with some going for 2,000 and others for between 8,000 and 10,000. Enthusiasts buying them saythat they still have years of life left in it.