The Eagles drew 2-2 at West Brom on Saturday, having led 2-0, after reports linking American billionaire Josh Harris with the club emerged.
Warnock was in charge at Leeds and QPR when they were sold, and knows the feeling after Palace were linked with a takeover.
“Yes, because it’s happened many times,” he said. “At Leeds it happened, at QPR there was a takeover and now Palace.
“But it is difficult for managers now. Every club would love a billionaire. There are not that many about — you have to snap their hand off.
“It must be lovely, but it brings a different kind of pressure, to be able to spend millions and get top players.”
Palace were 2-0 up at the break at The Hawthorns after Brede Hangeland’s opener and Mile Jedinak’s penalty.
Victor Anichebe made it 2-1 in the second half after Craig Dawson barged into Julian Speroni, leaving Warnock baffled as to why referee Mark Clattenburg did not award a foul.
It forced the goalkeeper off with a head injury and Clattenburg also failed to give Palace another first-half penalty when Dawson felled Wilfried Zaha.
Saido Berahino’s stoppage-time spot-kick salvaged a point for the Baggies and denied the Eagles a third win of the season.
West Brom head coach Alan Irvine believes Berahino has the world at his feet — and has compared him with England captain Wayne Rooney.
“If you are going to be a top player, you have to have a lot of the full package,” he said.
“Everyone talks about technical, tactical, physical, psychological. You cannot be a top player unless you score highly in all of them.
“Saido has a lot of that package but he is still at that age where it can go one way or another.
“I have been fortunate enough to have worked with a number of very talented young players over the years. Wayne Rooney springs to mind.”
WEST BROM: Foster, Wisdom, Dawson, Lescott, Pocognoli, Morrison, Gardner, Dorrans (Blanco 83), Sessegnon (Anichebe 46), Brunt, Berahino.
CRYSTAL PALACE: Speroni (Hennessey 55), Kelly, Mariappa, Hangeland, Ward, Zaha (Puncheon 64), Jedinak, Ledley, Bolasie, Chamakh (Guedioura 73),Campbell.
Referee: Mark Clattenburg.